Monday, October 24 2016


VN exports rise 6% in first four months

Update: April, 29/2016 - 09:00
Workers of Simone Việt Nam TG Limited Company make bags for exports in Tân Hương Industrial Zone, Tiền Giang Province. Việt Nam’s total exports hit US$52.87 billion in the first four months of this year. — VNA/VNS Photo Vũ Sinh
Viet Nam News

HÀ NỘI – Việt Nam’s total exports saw a year-on-year increase of 6 per cent in the first four months of this year to US$52.87 billion, according to the General Statistics Office (GSO).

Of this, the domestic economic enterprises saw a year-on-year surge of 2.9 per cent in export value to $15.11 billion in the first four months, while the foreign direct invested firms had a year-on-year growth of 7.3 per cent in export value to $37.76 billion.

GSO experts said this was a result of the positive growth of national exports, in the face of a drop in crude oil exports by 52 per cent to $678 million in the first four months, due to the strong reduction in world oil prices.

Meanwhile, 30 key export products saw a strong increase in export value in the first four months. These included vegetable and fruit with a growth of 43.3 per cent to $741 million; telephone and its components, up 23.8 per cent to $474 million; gemstone and precious metals, up by 22.8 per cent to $260 million; and machine and equipment, up by 15.8 per cent $2.86 billion, in addition to petrol products, up by 12.6 per cent to $259 million; and handbags, hats and umbrellas, up by 10.8 per cent to $1.36 billion.

However, some other key export products faced low growth or even reduction in export value such as seafood (up by 3.8 per cent), bamboo and rattan (up by 2.6 per cent), footwear (up by 4.8 per cent), and tea (down by 14.2 per cent), in addition to cassava (down by 23.5 per cent).

The GSO also reported in the first four months of this year, the national import value reduced 1.2 per cent year-on-year to $51.4 billion, including $20.7 billion from domestic enterprises and $30.7 billion from FDI enterprises.

Therefore, the nation gained a trade surplus of $1.46 billion in the first four months of this year.

The products which witnessed a big reduction in import value included animal feed (down by 17.7 per cent), petrol (33.3 per cent), and completely built-up automobiles (23.5 per cent).

The office said value of imports from China fell strongly to $14.7 billion in the first four months, reducing trade deficit with China by 12.7 per cent year-on-year to $8.9 billion. – VNS

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