A shipping yard Hải Phòng port. Việt Nam had a trade deficit of about US$1 billion in the first 15 days of this year. - Photo baohaiquan.vnViet Nam News HÀ NỘI – Việt Nam had a trade deficit of about US$1 billion in the first 15 days of this year, according to the General Department of Customs. The total value of the whole country’s exports reached $9.2 billion, marking a slight decrease of $71 million compared to the same period in 2018. Meanwhile the total import value reached nearly $10.2 billion, an increase of $646 million. The nation’s trade deficit in the period, after recording a trade surplus of nearly $6.8 billion in 2018, was likely due to the import activity leading up to the Lunar New Year. The holiday causes reduced production and exports coupled with a rise in imports to meet domestic demand. During the first 15 days of the year, three goods categories recorded an export value of at least $1 billion, including … [Read more...] about Việt Nam records $1b trade deficit in first half of January
Us japan trade deficit
VN eyes US$ 3 billion trade deficit in 2019
The MoIT convened a summary meeting on January 17 in Ha Noi to review outstanding performance in 2018 and set goals for 2019. Unprecedented record export turnover Addressing of the event, Minister of Agriculture and Rural Development Nguyen Xuan Cuong assessed that a large number of industrial breakthroughts emerged besides oil and gas production and outstanding enterprises included Truong Hai 2 automobile manufacturer and Vinfast electric motorcycle brand. In addition, industrial economic structure progressed drastically. Trade sector also witnessed the unprecedentedly record export turnover of US$ 245 billion amidst global economic difficult time. Noticably, all large markets namely the EU, the U.S, Japan, and China expanded positively. Moreover, Viet Nam had 30 commodities with over US$ 1 billion of export turnover. In 2018, total trade turnover was estimated at US$ 482 billion, representing a year-on-year growth of 12.64%. Deputy … [Read more...] about VN eyes US$ 3 billion trade deficit in 2019
Vietnam records trade deficit with Japan
Vietnam records trade deficit with JapanBy Trung Chanh A farmer in the Mekong Delta province of Tien Giang harvests dragon fruit – PHOTO: TRUNG CHANH CAN THO – Vietnam is currently in a trade deficit with Japan, despite strong bilateral trade in recent years, announced an official from the Vietnam Trade Promotion Agency (Vietrade) at a seminar in the Mekong Delta province of Can Tho on September 14. Vietrade partnered with the ASEAN Promotion Centre on Trade, Investment and Tourism and the Can Tho Promotion Agency to organize the seminar aimed at promoting agricultural and seafood products to Japan. Two-way trade between the two countries had risen to more than US$33.8 billion in 2017 from the 2011 figure of US$21.18 billion. The number increased by 12% to US$20.93 billion in the first seven months of this year, according to Nguyen Manh Hung, head of the International Relations Department at Vietrade. Hung noted that Vietnam had earlier witnessed a trade surplus … [Read more...] about Vietnam records trade deficit with Japan
Vietnam’s garment and textile industry advised to stay alert of US-China trade clash
The Hanoitimes - The profile of Vietnam’s garment and textile industry remains clear, without dumping or subsides, said the Vietnamese official. Vietnamese garment and textile enterprises should be proactive in response to ups-and-downs in the international market, especially the rising trade protectionism, said Deputy Director of the Export-Import Department under the Ministry of Industry and Trade (MoIT) Tran Thanh Hai. Hence, amid the trade clash between China and the US, Vietnam’s textile and garment industry is vulnerable to the threat of its reputation being taken advantage of, Hai was quoted by the Nhip Cau Dau Tu magazine as saying. Illustrative photo Currency devaluation proposed Meanwhile, Vu Duc Giang, chairman of Vietnam Textile Association (VITAS), highlighted the role of the government in the issue. “The Vietnamese government and the State Bank of Vietnam should consider raising the USD/VND exchange rate soon,” Giang told Nhip Cau Dau Tu … [Read more...] about Vietnam’s garment and textile industry advised to stay alert of US-China trade clash
Asia sees signs of export weakness before key US-China trade talks
Manufacturing activity remained relatively solid in major Asian economies such as China and Japan in April, but exports showed signs of weakness across the region, a worrying development given heightened Sino-U.S. trade tensions. High-level U.S. and Chinese officials meet in China this week, with trade expected to be top of the agenda as both sides have threatened reciprocal tariffs on hundreds of billions of dollars worth of imports. The meetings’ outcome could be crucial for the outlook for Asian exporters as Purchasing Managers Index (PMI) surveys of factory activity are already pointing to a slowdown. “What we’re seeing is a cyclical soft patch in exports after a very strong rise last year,” said Dong Chen, senior Asia economist at Pictet Wealth Management. “Without considering the potential trade war, we’re not very worried about it, we think it’s fairly normal. But if we think about the trade war ... then the outlook is quite uncertain. … [Read more...] about Asia sees signs of export weakness before key US-China trade talks