Between January and November 2018, 1.2 million tonnes of Vietnamese steel products were exported to Cambodia for over 796 million USD, annual increases of 53.04 and 74.36 percent, respectively (Source: VNA) Hanoi (VNA) – Vietnam’s exports to Cambodia exceeded 3 billion USD last year, setting a record high in a decade and opening up opportunities for local firms to capitalise on untapped potential of the neighbouring market, statistics show. In the past three years, the value of Vietnamese shipments to Cambodia increased continuously from 2.2 billion USD in 2016 to 2.77 billion USD in 2017 and 3.4 billion USD in the first 11 months of 2018. According to the General Department of Vietnam Customs, during the January-November period last year, the export of steel, petroleum, and garment-textile products to Cambodia recorded significant increases and together accounted for the lion’s share of the country’s total, at 49.63 percent. Notably, 1.2 million … [Read more...] about Vietnam sees export, trade opportunities in Cambodian market
Vietnam biggest export
Vietnam footwear exports benefit from US-China trade spat
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 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
Import demand continues boosting Vietnam’s rice export
Farmers dry unhusked rice in Hong Dan district, the Mekong Delta province of Bac Lieu (Photo: VNA) Hanoi (VNA) – High rice import demand from Vietnam’s major markets in the second quarter is expected to help exporters continue good overseas shipments in the first three months of this year. Some foreign news sources reported that in late March, the State Logistics Agency of Indonesia (Bulog) signed contracts to purchase 300,000 tonnes of rice from Vietnam and 200,000 tonnes from Thailand. This is the third time Indonesia has imported rice since the beginning of 2018. Chairman of the Vietnam Food Association (VFA) Nguyen Ngoc Nam confirmed the report, saying that Bulog invited the Vietnam Northern Food Corporation and the Vietnam Southern Food Corporation to supply the rice. This contract will be carried out from April to July this year. The Philippines, another major market, is also planning to import rice in large amounts in the second quarter, the VFA said, adding … [Read more...] about Import demand continues boosting Vietnam’s rice export
Vietnam to export 6.5 million tons of rice in 2018
Rice stockpiling in the Mekong Delta. (Photo: VNA) The Ministry of Agriculture and Rural Development said that Vietnam is trying to improve the branding of its rice by shipping mainly high-quality rice, and keeping the export of normal rice below 20%. Vietnam shipped more than 860,000 tons of rice abroad in the first two months of this year, earning 420 million USD, up 17% in volume since last year. The Philippines was the biggest importer of Vietnamese rice, accounting for nearly 27%, followed by China. The export price for Vietnamese rice is rising thanks to improved rice quality. … [Read more...] about Vietnam to export 6.5 million tons of rice in 2018
Vietnam’s export turnover up 50 percent during Tet holiday
Meanwhile, import values during the Tet (Lunar New Year) holiday, the biggest festival of the year for Vietnamese, was US$604 million, a year-on-year rise of 45.7 percent. According to the General Department of Customs, the export-import activities were handled at 108 customs departments, with nearly 5,100 declaration forms registered. The agency said that only a nine-seat automobile worth US$16,500 was imported from Australia during the week. Vietnam’s export turnover for January 2018 stood at US$19 billion, a decrease of 3.3 percent against December 2017 but up 33.1 percent compared with the same period of last year. China was Vietnam’s largest export market with a turnover of US$4.5 billion, a 2.5-fold rise from the corresponding time last year, followed by the United States, the European Union, the Association of Southeast Asian Nations (ASEAN), Japan, and the Republic of Korea. Meanwhile, Vietnam imported US$19.3 billion worth of goods in January, down 3 percent … [Read more...] about Vietnam’s export turnover up 50 percent during Tet holiday
Positive signs for Vietnam’s rice exports
Vietnam’s rice export industry has a bright future with good contracts after having a successful year. Vietnam had a successful year Vietnam has exported rice to 132 markets in the world and China remains Vietnam's biggest buyers. Vietnam exported over 570,000 tonnes of rice last December, a 38.6% increase compared to the same period in 2016. Local firms signed contracts to export 6.4 million tonnes of rice, of which 5.8 million was exported in 2017. The exports in the first eleven months of 2017 reached 5.52 million tonnes worth USD2.49bn, up 24.1% and 24.9%, respectively, compared to same period the previous year. It also exceeded the 5 million tonnes target set in early 2017. Some 764,000 tonnes of rice remains in the inventory. 209,000 tonnes of which belong to Vietnam Southern Food Corporation, Vietnam Northern Food Corporation has 107,000 tonnes and the rest belong to other companies in the Vietnam Food Association. The Indonesian Bureau of Logistics announced … [Read more...] about Positive signs for Vietnam’s rice exports
Vietnam shrimp exports remain buoyant
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
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