According to customs statistics, Vietnam’s footwear exports in the first nine months of this year were worth $11.74 billion, a 10.2 percent year-on-year increase. Its exports to China in the period have risen by 28.5 percent, to Japan by 14.7 percent, and to the U.S. by 13.5 percent. Vietnam is the second biggest exporter of footwear to the U.S. behind China, shipping 404 million pairs of shoes last year. The upward trend is likely to continue, too, as rising wages in China increase the cost of goods produced there and the country is thus directing more of its manufacturing resources toward higher-priced goods like electronics, according to the global footwear news outlet Footwearnews (FN). Foreign companies are moving to other countries like Vietnam to cut cost. Adidas CEO Kasper Rorsted told Reuters last May that his company is shifting sourcing of footwear from China to Vietnam. Vietnam has in fact overtaken China as its top supplier, with Vietnamese factories producing … [Read more...] about Vietnam footwear exports benefit from US-China trade spat
Vietnam biggest export
Vietnam tea exports ranked fifth worldwide
Vietnamese women working on a green tea field (Photo: VNA) Hanoi (VNA) – Vietnam is now the seventh biggest tea producer in the world and the fifth biggest exporter of the product. According to the department of farm produce processing and market development under the Ministry of Agriculture and Rural Development, more than 500 tea factories are operational in the country. Together they produce more than 500,000 tonnes of dried tea leaves annually. Despite the high production, the export value of Vietnamese tea products is half the average global price. The main cause of this is that Vietnamese tea products are yet to meet standards set by foreign importers. Vietnam shipped 34,000 tonnes of tea overseas for 54 million USD during January – April, a decrease of 10.2 percent and 3.6 percent, respectively, from the same period of 2017. Prices of exported tea in the first quarter averaged 1,546 USD per tonne, up 7.5 percent year on year. The biggest buyers of Vietnamese … [Read more...] about Vietnam tea exports ranked fifth worldwide
Phones and electronics overtake textiles as biggest export earners
Phones and electronics overtake textiles as biggest export earnersHung Le Workers make garments at a factory in Vietnam. Mobile phones/phone components, and computers/electronics/accessories are now the nation’s biggest export earners, surpassing the apparel industry - PHOTO: HUNG LE HCMC – Mobile phones/phone components, and computers/electronics/accessories have overtaken textiles and garments as the nation’s biggest export earners. Data of the General Department of Vietnam Customs shows that textiles and garments registered total export revenue of US$2.15 billion in May, up 1.6% against April, but the figure was lower than export earnings of the computers/electronics/accessories group which obtained US$2.5 billion, up 11.6% against last month. Exports of the computers/electronics/components group which often came in third in the past few years have leapfrogged the apparel sector, becoming the country’s second biggest export earner. According to the … [Read more...] about Phones and electronics overtake textiles as biggest export earners
Brighter outlook for Vietnam’s exports to Australia
According to the General Department of Vietnam Customs, telephones and components topped the list of 33 major groups of export products with a value of US$582.49 million (up 7% when compared with 2016’s same period), followed by computers and components at US$355.38 million (up 13%), crude oil at US$220.32 million (up 34%) and footwear at US$205.66 million (up 9%).Vietnam is currently the fourth largest supplier of seafood to Australia, trailed by Thailand, New Zealand, and China.Shrimp exports alone, the Southeast Asian nation is the biggest exporter to Australia, accounting for more than 35% of market shares. … [Read more...] about Brighter outlook for Vietnam’s exports to Australia
Vietnam’s exports gain impressive results in 2017
The Hanoitimes - Vietnam’s exports gain impressive achievements in 2017 despite many difficulties caused by natural disasters and import markets. The Ministry of Industry and Trade predicts that Vietnam will earn US$200 billion from exports this year, 13% more than last year, exceeding the set target. According to the Ministry of Industry and Trade, phones and phone parts are Vietnam’s biggest export earner: about US$39 billion this year, trailed by garments and textiles (US$25 billion) and electronics, computers, and accessories (US$22 billion). The exports of footwear, aquatic products, fruits, and vegetables soared this year. The growth is mostly due to Vietnam’s improved competitiveness in agro-forestry, fruit, and vegetable products. After imposing anti-dumping duties on Chinese timber products, the US is moving to ASEAN markets, including Vietnam. Vietnamese wood exporters seized the opportunity and earned an export value of nearly US$3.7 … [Read more...] about Vietnam’s exports gain impressive results in 2017
Vietnam’s aquatic export forecast to top $8.5 bln in 2018
Vietnam’s export of aquatic products is forecast to top 8.5 billion USD in 2018, up nearly 3 percent from 2017, according to the Vietnam Association of Seafood Exporters and Processors (VASEP). This year’s figure is estimated at more than 8.3 billion USD, marking a 19 percent rise year-on-year. According to the VASEP, seafood export to most countries saw strong growth, excluding the US, Australia and Russia. The EU has replaced the US as the top importer of Vietnam’s aquatic products, followed by the US, Japan and China. Seafood export to Japan posted two-digit growth with a total revenue of 1.3 billion USD, up nearly 18 percent from 2017. Notably, China has surpassed the US in the list of the largest importers of Vietnam’s tra fish and shrimp. The neighbouring country is now the biggest importer of Vietnamese tra fish and the third largest importer of Vietnamese shrimp, after the EU and Japan. Vietnam’s shipment of aquatic … [Read more...] about Vietnam’s aquatic export forecast to top $8.5 bln in 2018
Vietnam breaks export growth record in 2017
From textile and garment to mobile phones, Vietnam's 2017 export-import picture was bright with a record $425 billion. Breaking the recordDespite facing many challenges in the first two quarters of this year, with orders from importers falling sharply and the US—Vietnam’s biggest export market for textile and garment—withdrawing from the Trans Pacific Partnership (TPP), Vietnam earned $31 billion from textile and garment exports in 2017, a year-on-year increase of 10.2 per cent, and posting a trade surplus of $15.5 billion for the first time ever.Chairman of the Vietnam Textile and Apparel Association (Vitas) Vu Duc Giang told VIR that, “The year of 2017 was a tough year, but Vietnamese textile and garment sector made a breakthrough, turning over last year’s falling $2 billion short of meeting the annual export target of $30 billion.”With the impressive result, Vietnam ranks as the world’s 26th textile and garment exporter (in terms of … [Read more...] about Vietnam breaks export growth record in 2017
Vietnam’s aquatic export forecast to top 8.5 bln USD in 2018
Illustrative image (Source: VNA) HCM City (VNA) – Vietnam’s export of aquatic products is forecast to top 8.5 billion USD next year, up nearly 3 percent from 2017, according to the Vietnam Association of Seafood Exporters and Processors (VASEP). This year’s figure is estimated at more than 8.3 billion USD, marking a 19 percent rise year-on-year. According to the VASEP, seafood export to most countries saw strong growth, excluding the US, Australia and Russia. The EU has replaced the US as the top importer of Vietnam’s aquatic products, followed by the US, Japan and China. Seafood export to Japan posted two-digit growth with a total revenue of 1.3 billion USD, up nearly 18 percent from 2017. Notably, China has surpassed the US in the list of the largest importers of Vietnam’s tra fish and shrimp. The neighbouring country is now the biggest importer of Vietnamese tra fish and the third largest importer of Vietnamese shrimp, … [Read more...] about Vietnam’s aquatic export forecast to top 8.5 bln USD in 2018
Impressive achievements in Vietnam’s exports in 2017
Vietnam’s exports in 2017 were fruitful despite many difficulties caused by natural disasters and import markets. The Ministry of Industry and Trade predicts that Vietnam will earn US$200 billion from exports this year, 13% more than last year, exceeding the set target. A seafood processing company. (Photo: congnghieptieudung.vn) According to the Ministry of Industry and Trade, phones and phone parts are Vietnam’s biggest export earner: about US$39 billion this year, trailed by garments and textiles (US$25 billion) and electronics, computers, and accessories (US$22 billion). The exports of footwear, aquatic products, fruits, and vegetables soared this year. The growth is mostly due to Vietnam’s improved competitiveness in agro-forestry, fruit, and vegetable products. After imposing anti-dumping duties on Chinese timber products, the US is moving to ASEAN markets, including Vietnam. Vietnamese wood exporters seized the opportunity and earned an export value of … [Read more...] about Impressive achievements in Vietnam’s exports in 2017
Vietnam’s export and import turnover punched through $400-billion milestone
Vietnam's total export-import turnover since the beginning of the year has reached $400 billion, recording the highest trade surplus ever, with $3.17 billion.Milestones of Vietnam’s export and import turnoverVietnam Customs has just announced the export and import situation of the first 11 months on December 19, 2017. Total export and import turnover hit $385.77 billion in the first 11 months, up 21.4 per cent, which is the highest on-year increase ever, adding $200 billion compared to 2011.Specifically, total export turnover hit $194.47 billion, up 21.5 per cent or $34.44 billion against the same period last year while total import turnover hit $191.3 billion, up 21.2 per cent. Breaking the recordAccording to Vietnam Customs, in 2001, total export and import turnover was only at a modest $30 million. It was $100 billion in 2007, after Vietnam became an official member of the World Trade Organization (WTO).Four years later (2011), the export-import turnover doubled to $200 … [Read more...] about Vietnam’s export and import turnover punched through $400-billion milestone