Viet Nam’s exports of tuna products to France in the first seven months of the year were 203 per cent higher year-on-year. — VNA/VNS Photo The value of aquatic exports in July fell below US$1 billion for the first time in 2022, according to the Vietnam Association of Seafood Exporters and Producers (VASEP). It was expected to fetch $970 million, up 14 per cent year-on-year and 4 per cent month-on-month. The country’s total aquatic export turnover in the first seven months of this year reached nearly $6.7 billion, an increase of 35 per cent compared with the same period last year. After recording a sharp rise of 34-62 per cent in the first five months of the year, aquatic exports began cooling in June with an increase of just 18 per cent. The decline is mainly due to unfavourable weather, with early rains affecting seafood production. The stockpile of aquatic products from last year has also dropped. Shrimp exports in June decreased by 1 per cent compared to the same period … [Read more...] about Aquatic exports drop below US$1 billion in July
Sopariwala exports turnover
Vietnam’s rice exports hit a record high
Vietnam’s rice remains favorite in the international market despite fierce competition. Vietnam exported nearly 4.2 million tons of rice during the first seven months of 2022, representing an increase of over 20% year-on-year, according to the Ministry of Agricultural and Rural Development (MARD). Rice production for exports at Loc Troi Company . Photo: Nguyen Binh “Despite fierce competition, Vietnamese rice products continue to be among the favorites in the international market,” stated the ministry in a report. During the January-July period, Vietnam exported 4.19 million tons of rice for over US$2 billion, an increase of 20.5% year-on-year in volume and 9% in value. Among Vietnam’s major markets, the US recorded the highest growth with an increase of 65.3% in rice imports during the first half, followed by the Philippines with 48.6%. The Philippines remained Vietnam’s largest rice buyer and made up 44.5% of total exports. Rice demands from African … [Read more...] about Vietnam’s rice exports hit a record high
Vietnam enjoys trade surplus following double-digit export growth
Imports rose by 13.6 percent to $215.59 billion, according to data from the General Statistic Office. In the same period last year Vietnam had run up a trade deficit of $3.31 billion. Mobile phones and components remained the top export item, with their value going up 13.1 percent to $33.7 billion. Electronics, laptops and components were second at $31.7 billion, followed by equipment and spare parts at $24.9 billion. Garment and footwear exports jumped by nearly 20 percent each to $22.1 billion and $14.1 billion. The U.S. continued to be Vietnam’s biggest export market with its purchases going up by 24.3 percent to $67.1 billion. China followed with imports of $30.4 billion. It was Vietnam’s top trading partner with two-way turnover of $103.1 billion. Exports to other other markets rose by 13-27 percent. The trade surplus is low and not very likely to be sustained, the GSO warned. … [Read more...] about Vietnam enjoys trade surplus following double-digit export growth
Garment-textile exports set to hit 45.7 billion USD this year
The General Department of Vietnam Customs reported that as of mid-July, garment-textile was one of the four sectors posting the highest export revenue, with a record of over 20 billion USD, up nearly 20% year-on-year. Garment-textile was also among the six groups whose export value increased by over 1 billion USD. Vietnamese garment-textile products were shipped to 55 countries and territories worldwide, including 17 markets with a turnover of more than 100 million USD each. The US, Japan, the Republic of Korea and Canada were among major buyers of the Vietnamese products. Earlier, the Vietnam Textile & Apparel Association said textile-garment producers target to earn up to 21 billion USD from exports in the second half of this year, raising total shipments of the year to around 43 billion USD./. VNA … [Read more...] about Garment-textile exports set to hit 45.7 billion USD this year
Viet Nam’s timber industry urged to seek new opportunities in the UK
MDF production line at Thanh Thanh Dat MDF JSC's factory in Ha Tinh Province. — VNA/VNS Photo While many products exported to the UK enjoyed strong increases thanks to the UK-Viet Nam Free Trade Agreement (UKVFTA), Viet Nam’s timber industry is facing difficulties in expanding in this market, requiring manufacturers and exporters to change their business strategies. In fact, Viet Nam’s wood industry is seeing declining sales overseas. The export value in July was estimated at US$1.41 billion, down 5.5 per cent against June and 1.6 per cent year-on-year, according to a report of the General Department of Forestry under the Ministry of Agriculture and Rural Development (MARD). This was the second month that the export of wood and timber products decelerated. Earlier, figures from the General Department of Customs showed the export turnover of wood and wood products reached $1.4 billion in June, down nearly 11 per cent year-on-year. Ending July, wood and wood products were … [Read more...] about Viet Nam’s timber industry urged to seek new opportunities in the UK
Vietnam’s timber industry urged to seek new opportunities in UK
MDF production line at Thanh Thanh Dat MDF JSC's factory in Ha Tinh province. (Photo: VNA) Hanoi (VNS/VNA) - While many products exported to the UK enjoyed strong increases thanks to the UK-Vietnam Free Trade Agreement ( UKVFTA ), Vietnam’s timber industry is facing difficulties in expanding in this market, requiring manufacturers and exporters to change their business strategies. In fact, Vietnam’s wood industry is seeing declining sales overseas. The export value in July was estimated at 1.41 billion USD, down 5.5% against June and 1.6% year-on-year, according to a report of the General Department of Forestry under the Ministry of Agriculture and Rural Development (MARD). This was the second month that the export of wood and timber products decelerated. Earlier, figures from the General Department of Customs showed the export turnover of wood and wood products reached 1.4 billion USD in June, down nearly 11% year-on-year. Ending July, wood and wood products were … [Read more...] about Vietnam’s timber industry urged to seek new opportunities in UK