By staff writers – Translated by Kim Khanh
Losing 4 pounds a month
The Hanoitimes – The foreign-invested sector made up 76.4% of Vietnam’s total exports in the first two months with US$37.07 billion, representing an increase of 30.5% year-on-year.
Vietnam reported an estimated trade deficit of US$800 million in February, narrowing the trade surplus in the first two months of 2021 to US$1.29 billion in 2019, the General Statistics Office (GSO) has said in a monthly report.
|Data: GSO. Chart: Ngoc Thuy|
Overall, Vietnam’s trade turnover in the January-February period is likely to rise by 24.5% year-on-year to reach US$95.81 billion, of which its export value could amount to US$48.55 billion, up 23.2% year-on-year, and imports are estimated at US$47.26 billion, up 25.9%.
According to the GSO, the foreign-invested sector made up 76.4% of the total exports with US$37.07 billion, representing an increase of 30.5% year-on-year, and the domestic-invested sector with US$11.48 billion, or 23.6% of the total.
Among Vietnam’s key export staples, phones and parts are predicted to earn the largest export turnover during the January-February period at US$9.3 billion, up 22.8% year-on-year and accounting for 19.2% of Vietnam’s total exports.
In addition, electronic products, computers and components have earned an estimated US$6.9 billion, up 27.3% year-on-year; followed by equipment and parts (US$5.5 billion and up 72.6%); garments (US$4.8 billion and down 0.01%).
|Data: GSO. Chart: Ngoc Thuy|
In the January – February period, the US, China, EU, ASEAN and South Korea remained Vietnam’s largest five export markets.
Meanwhile, China continued to be Vietnam’s largest supplier, selling US$17 . 3 billion worth of goods to Vietnam, surging 85 . 7% year-on-year.
South Korea claimed the second place by exporting US$8 . 4 billion worth of goods to Vietnam, up 6.7% year-on-year, followed by ASEAN countries with US$5.6 billion, up 18.5%.
The Hanoitimes – On the occasion of the International Women’s Day on March 8 and International Day of Happiness on March 20, Vietnam National Village for Ethnic Culture and Tourism will run a series of activities themed “Little Spring” for the whole month.
The cultural activities will draw the participation of nearly 100 non-professional artists and people from 14 ethnic groups in 12 provinces and cities throughout the nation such as Thai Nguyen, Hanoi, Ha Giang, Son La, Hoa Binh, Nghe An, Thua Thien – Hue, Gia Lai, Kon Tum, Ninh Thuan, Dak Lak and Soc Trang.
|Songs and dances on the spring, which praise the beauty of nature, culture and people of the Central Highlands will be showcased at the National Village for Ethnic Culture and Tourism this March. Photo: Vinaculto.vn|
The event themed “the Spring in the Muong Village” features an artistic show of Muong ethnic dances and songs; an ethnic gastronomic demonstration with dishes prepared from Ban Flower (Bauhinia) and a photo exhibition of beautiful girls from Thai ethnic group with Ban flowers.
At the exhibition “Our homeland’s islands”, visitors will watch photos, documentary films and artifacts related to the sea and islands of Vietnam, especially the Truong Sa and Hoang Sa (Paracel & Spratly) islands while at the music show titled “Love Songs from the Sea”, they will be told about the lives of the marines, their bravery and willing to sacrifice for Vietnam’s territorial water protection.
On weekends, there will be a cultural event called “The Central Highlands in March – I’m the P’lang flower”, including songs and dances on the spring, which praise the beauty of nature, culture and people of the Central Highlands.
In addition, spring festivals, homestay travel programs, culinary experiences, and folk games will also be held on weekdays and weekends to introduce the culture and customs of the 54 ethnic groups of Vietnam.
These cultural activities are aimed at promoting cultural exchange among ethnic groups in Vietnam as well as attracting more tourists to the National Village for Ethnic Culture and Tourism.
The number of employees registered by the newly-established enterprises rose 9.7 percent to 173,000.
The months saw an addition of over 720.4 trillion VND (32.24 billion USD), in total registered capital, up 12.4 percent. Average level in registered capital per enterprise surged 46.4 percent to reach 18.5 billion VND in the period.
About 11,030 enterprises resumed operations in the first two months, down 7.6 percent while 33,611 others were dissolved, an increase of 18.6 percent.
In February alone, as many as 8,038 new businesses were set up with a combined registered capital of nearly 179.74 trillion VND.
The number of new firms represented a year-on-year drop of 12.3 percent while the amount of capital surged 85.6 percent.
The number of workers registered by these businesses reached almost 57,000, down 22.1 percent.
Viet Nam’s trade balance posted positive US$1.29 billion in the first two months of the year, the General Department of Customs has said.
The country’s trade turnover during January-February topped some $95.81 billion, a year-on-year surge of 25.4 per cent. Of the total, exports amounted to $48.55 billion, a yearly hike of 23.2 per cent, while imports were estimated at $47.26 billion, or 25.9 per cent higher than the same time last year.
Foreign-invested companies accounted for 76.4 per cent, or $37.07 billion, of Viet Nam’s total export turnover. Meanwhile, the domestic sector shipped abroad $11.48 billion worth of products.
There were nine commodities joining the billion-USD export club, including telephones and parts ($9.3 billion, up 22.8 per cent year-on-year); electronics, computers and parts ($6.9 billion, up 27.3 per cent); equipment, machines and parts ($5.5 billion, up 72.6 per cent); footwear ($3.2 billion, up 15.4 per cent); and wood and wooden products ($2.4 billion, up 51 per cent). They made up 73 per cent of the country’s export turnover.
Viet Nam also saw strong surge in shipments of several agricultural products, such as fruits and vegetables ($610 million, rising 14.6 per cent), rubber ($516 million, increasing 109.7 per cent), cashew ($442 million, up 21.5 per cent), and cassava ($256 million, up 78.2 per cent).
The US was Viet Nam’s biggest importer as it splashed out $14.2 billion on Vietnamese products, or 38.2 per cent higher than the amount it spent the same time last year. China came second with $8.5 billion, followed by the EU with $6.3 billion, ASEAN $4.2 billion, South Korea $3.4 billion, and Japan $3.2 billion.
Meanwhile, the country spent big ($47.26 billion) on imports, with the foreign-invested sector purchasing $31.64 billion worth of products from abroad for production, up 31.4 per cent, while that of the domestic sector surged 16 per cent to $15.62 billion.
In the two-month period, China was the largest exporter of Viet Nam, with revenue estimated at $17.3 billion, up 85.7 per cent year-on-year, followed by South Korea with $8.4 billion, ASEAN $5.6 billion, Japan $3.1 billion, the EU $2.3 billion, and the US $2.1 billion.
In a bid to support local firms in promoting production and exports, the Ministry of Industry and Trade said that it will work to capitalise on opportunities from the signed free trade agreements to seek measures for market development. Additionally, it will keep a close watch on the global market to identify key export products, while paying due heed to penning measures for market development.— VNS
More than 18,000 new businesses were established in the first two months of 2021, a year-on-year decline of 4 per cent, according to the Ministry of Planning and Investment.
The number of employees registered by the newly-established enterprises rose 9.7 per cent to 173,000.
The months saw an addition of VND720.4 trillion (US$32.24 billion) in total registered capital, up 12.4 per cent. The average level in registered capital per enterprise surged 46.4 per cent to reach VND18.5 billion in the period.
About 11,030 enterprises resumed operations in the first two months, down 7.6 per cent while 33,611 others were dissolved, up 18.6 per cent.
In February alone, as many as 8,038 new businesses were set up with a combined registered capital of nearly VND179.74 trillion.
The number of new firms represented a year-on-year drop of 12.3 per cent while the amount of capital surged 85.6 per cent.
The number of workers registered by these businesses reached almost 57,000, down 22.1 per cent. — VNS