Trading economics australia

The U.S. was Vietnam’s largest export market in the first five months with a value of $22.6 billion, up 28 percent year-on-year. China came second with $13.4 billion, down 2.6 percent, according to Vietnam's General Statistics Office.  Vietnam was the U.S.’s 12th largest supplier last year, but if this pace of growth is sustained for a full year, it could leapfrog Italy, France, the U.K., and India in the ranks of top exporters to the U.S, Bloomberg said in a new report. The country has become a standout in a region where the world’s export engines are largely hurting amid trade-war tensions and a slowing electronics cycle, the report added. U.S. Census Bureau data shows Japan, South Korea, Singapore, and Taiwan all saw export contractions in April, while in the same month Vietnam’s exports gained 7.5 percent from a year earlier.  Experts have called Vietnam a "winner" of the trade war as it has received increasing investment as major … [Read more...] about Vietnam exports to US rise 28 pct as China-US trade war intensifies

Despite being considered as the driving force of Vietnam’s economic growth, agriculture has been held back by an incomplete logistics system which fails to ensure quality and connect farms with markets.  A container is loaded at Chu Lai Port in Quang Nam Province. Vietnam lacks a well-connected logistics network which can boost agricultural product trade and export. — VNA/VNS Photo Danh Lam Vietnam has recently opened its doors for agricultural products to be exported to the international markets, yet struggled to win over customers and couldn’t compete with products from other countries in terms of quality and price due to drawbacks of the existing logistics system. Most small- and medium-sized enterprises fail to afford the cost of logistics services. According to Viet Nam Association of Logistics Services Enterprises, the expenses for storing and transporting agricultural products account for up to 30 per cent of selling prices, higher than those of … [Read more...] about Poor logistics system hindering Vietnam agricultural products’ trade

Economic growth across Southeast Asia will slow to 4.5 per cent in 2019 and remain unchanged in 2020, amidst high risks of a re-escalation in trade tensions. Regional growth has slowed since 2018 and remained sluggish in the third quarter of 2019, with GDP growth across the Southeast Asia (SEA) region rising only 4.5 per cent on-year from 4.4 per cent in the second quarter. The US-China trade conflict has been a key driver for this slowdown in growth, with trade uncertainty remaining a key drag on manufacturing, exports, and investment. Export-oriented economies have been the most impacted by the ongoing trade tensions, with Singapore only narrowly avoiding a technical recession in this year’s third quarter. Regional growth has slowed since 2018 and remained sluggish in the third quarter of 2019, with GDP growth across the SEA region rising only 4.5 per cent on-year from 4.4 per cent in the second quarter. Sian Fenner, ICAEW Economic Advisor and Oxford Economics Lead Asia … [Read more...] about Southeast Asia’s GDP growth to remain at 4.5 percent in 2020

The country ranked 84th out of 128 economies in the World Giving Index released last week by Charities Aid Foundation (CAF), an international organization that "promotes giving to transform lives and communities across the world." The CAF surveyed more than 1.3 million people in 128 countries and territories around the world over a decade between 2009 and 2018. The survey asked people if they had helped a stranger or someone they didn't know who needed help, donated money to charity, or volunteered their time to an organization. They collated answers to these questions to formulate the World Giving Index.     Vietnam scored an overall 26 percent, far behind its Southeast Asian neighbors such as Myanmar (2nd), Indonesia (10th), Thailand (21st), Malaysia (30th), the Philippines (33rd) and Singapore (46th). In Southeast Asia, Vietnam was only above its neighbor Cambodia (102nd). The report revealed that 42 percent of Vietnamese people are ready to help strangers while only … [Read more...] about Vietnam ranks low on World Giving Index

Illustrative image (Photo: malaysiakini.com)   Kuala Lumpur (VNA) – The Malaysian Ministry of International Trade and Industry (MITI) held the Informal Senior Officials’ Meeting (ISOM) of the Asia-Pacific Economic Cooperation (APEC) 2020 in Langkawi, Malaysia on December 9. Speaking at the opening ceremony, Chairman of the SOM APEC 2020 Hairil Yahri Yaacob said the event, themed “Optimising Human Potential Towards a Future of Shared Prosperity”, aims to clarify Malaysia’s priorities during APEC Year 2020. He added that Malaysia looks towards an APEC that will take the lead in dealing with existing problems via analysing negative factors in trade and investment as well as promoting creativity and innovation. After 30 years of Bogor Goals’ direction for free and open trade and investment in the region, the region’s economy grew from 23.5 billion USD in 1990 to 66.2 billion USD in 2018, an average of 3.7 percent per year, he … [Read more...] about APEC 2020 informal senior officials’ meeting opens