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The Hanoitimes - Phones and parts posted the largest export turnover among export items during January with US$6.1 billion, up US$3.4 billion against the same period of last year. Vietnam recorded a trade surplus of US$2.09 billion in the first month of 2021, which remained a stark contrast from a deficit of US$300 million in the same period last year, according to the General Department of Vietnam Customs (GDVC). Production for exports at Garment 10 Company. Photo: Pham Hung. In January, the country’s trade turnover stood at US$55 billion, representing an increase of 48.2% year-on-year, in which exports rose by 55.1% to US$28.55 billion and imports by 41.3% to US$7.74 billion. According to the GDVC, foreign-invested sector posted a trade surplus of US$3.98 billion during the period, coming on the back of a 70% surge in exports year-on-year to US$21.57 billion, or over 75% of the country’s total export turnover. Phones and parts posted the largest export … [Read more...] about Vietnam trade surplus surges to US$2.09 billion in January

Shrimps processed for export (Photo: VNA) HCM City (VNA) – Ho Chi Minh City ’s Department of Industry and Trade has set the target to export 48.19 billion USD worth of products in 2021, a year-on-year surge of 10 percent. Under its development plan for 2021 recently submitted to the municipal People’s Committee, the sector said import revenue is estimated at 56.47 billion USD for the whole year, up 11 percent against the previous year. Besides, it eyed to reel in more than 835.68 trillion VND (36.29 billion USD) from retail sales and services revenues in the year, up 10 percent year-on-year. The department said it will carry out necessary measures in a comprehensive fashion to branch out industry and trade, contributing to promoting economic recovery of the southern hub. Earlier, HCM City set a goal of boosting the export of its key products this year and beyond via trade promotion activities and assistance to enterprises. Head of the statistics office Huynh Van … [Read more...] about HCM City eyes 10 percent growth in export in 2021

The MoIT’s Import and Export Department cited statistics released by the International Trade Center (ITC) which indicate that Poland's coffee imports throughout the 2015 to 2019 period grew by an average of 6.5% annually, from 141,144 tonnes in 2015 to a total of 181,086 tonnes in 2019. During the nine-month period, the Eastern European country’s coffee imports reached 136,300 tonnes with a value of US$448.71 million, showing an increase of 2.7% in volume and 6.7% in value from the same period in 2019. Most notably, the average import price of coffee within the Polish market witnessed a surge of 3.9% to US$3,291 per tonne compared to last year’s corresponding period. Throughout the reviewed period, Poland increased its coffee imports from the majority of its regular markets, although imports from both Germany and Uganda declined. The figures indicate that the Eastern European nation increased coffee imports from Vietnam by 30.6% in volume and 27.1% in value, with the Vietnamese … [Read more...] about Poland increases imports of Vietnamese coffee

Hi-tech agriculture proves effective in Dong Nai Agricultural production has been affected by abnormal weather conditions, climate change, and diseases over recent years. Many farms in southern Dong Nai province have applied high-technology in agricultural production in order to cope with the situation, helping increase quality and output. High-tech production requires massive investment, not just capital but also technology, equipment, and “grey matter”, to adapt to cutting-edge manufacturing methods. High-tech manufacturing models have been expanded around Dong Nai, especially in animal husbandry and on poultry farms. Dong Nai has more than 46,000 hectares of crops using water-saving technology and the province has gradually changed to green breeding in accordance with Vietnamese Good Agricultural Practice (VietGAP) standards. Agriculture accounts for 8.3 percent of Dong Nai’s economic structure and agro-forestry-fisheries value currently stands at nearly 1.8 billion … [Read more...] about VIETNAM BUSINESS NEWS FEB. 24

Auto imports reach nearly 12,000 units over past 1.5 months By Van Phong An auto show is crowded with visitors. Auto consumption in Vietnam this year is expected to maintain growth – PHOTO: VNA HCMC - Vietnam’s import of cars between January 1 and February 15 this year reached 11,791 units, worth US$280 million, soaring 84.7% in volume and 76.2% in value against the 2020 figures, according to the General Department of Vietnam Customs. Of these, the country imported over 3,400 completely built-up units worth over US$66 million from February 1 to 15. During the past 1.5 months, the number of imported cars with nine seats or less totaled 2,477 units worth US$42.5 million, while 812 trucks valued at US$15.9 million were imported in the period. Earlier, the country imported more than 8,300 cars worth over US$212 million in January, including over 5,200 cars with nine seats or below and 2,230 trucks. These cars were mostly imported from Thailand, China and Indonesia. … [Read more...] about Auto imports reach nearly 12,000 units over past 1.5 months