Vietnam biggest export

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

Shrimp exports increased sharply last year and the trend will continue this year, according to the Viet Nam Association of Seafood Exporters and Producers (VASEP). Workers at a shrimp processing plant. Viet Nam’s shrimp exports surged last year and good growth is also expected this year. The exports were worth an estimated US$3.8 billion last year, $700 million up from 2016 and $400 million higher than the association’s target.There was big demand for shrimp in key markets such as the EU, China, Japan, and South Korea especially during the year-end festive season, VASEP said.In the first 11 months of last year, the EU was the largest importer of Vietnamese shrimp, with shipments to the market going up by 42.4 per cent to $780 million and accounting for 22.2 per cent of Viet Nam’s exports.Shrimp exports to China surged by 60.2 per cent to $637.9 million in the period, but shipments to the US fell by 7.8 per cent mainly due to high anti-dumping duties.Truong Dinh … [Read more...] about Vietnam shrimp exports remain buoyant

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

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

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

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