Sign up | Log in



Home  >>   Daily News  >>   Vietnam News  >>Trade  >>Trade surplus forecast on export growth
NEW UPDATES Asean Affairs  15 September 2014  

Trade surplus forecast on export growth

HA NOI (VNS)  — Viet Nam is expected to achieve a trade surplus in the remaining months of 2014 following positive results from exports in the first eight months of the year.

If so, this will be the third consecutive year that the country has achieved a trade surplus. Viet Nam 's trade surplus was US$749 million in 2012, and this increased to $863 million in 2013.

Figures from the Ministry of Industry and Trade (MoIT) showed that the country's trade surplus in the first eight months of the year reached $1.7 billion, or 1.8 per cent of total export value.

But the MoIT noted that most of the exports came from foreign-invested enterprises.

In the first eight months, Vietnamese enterprises reported a $10.16-billion trade deficit while foreign-invested enterprises reported nearly $11.86 billion in surplus.

Vietnamese exporters have to import a large volume of imported input materials. Although Viet Nam is an agricultural country, it has to import a large quantity of raw materials for agriculture, forestry and fisheries.

Its dependence on imports has incurred for the country a trade deficit with China, South Korea, Thailand and Singapore.

To boost exports of high value-added products, the MoIT said it was co-ordinating with the Ministry of Agriculture and Rural Development in adopting restructuring measures to increase the added value of Viet Nam's agri-forestry and fishery products.

The Government has also issued a decree to enable domestic enterprises to invest more in support industries so that components, equipment and machines produced at home could gradually replace those imported from abroad.

Producers of the country's key exports such as textiles and garments, mobile phone and electronics products, footwear and agricultural products have so far remained optimistic about their prospects in the last months of the year.

After surpassing mobile phone and electronics products as the country's top export earners, textiles and garments are expected to continue its leap into the last quarter of the year, when demand is expected to rise sharply ahead of holidays such as Christmas and New Year.

A good number of garment export producers say they have cornered enough orders for the whole year. The country's textile and garments industry targeted $23 billion in revenues from exports this year. In the first eight months of the year, its revenues reached $13.65 billion, a 19.7 per cent year-on-year increase. Export value to major markets rose significantly by 36 per cent in South Korea, 26 per cent in the European Union, 15 per cent in the United States and 14 per cent in Japan.

Industry insiders say garments exporters are also benefiting from a decrease in the world price of imported input materials such as cotton. In the US market, cotton prices declined by 24 per cent and the same trend is being seen in the Indian and Chinese markets.

Producers of agricultural exports are likewise optimistic. Tran Anh Tuan, MoIT deputy minister, said rice exports this year would meet Government targets.

According to the Viet Nam Food Association, rice exports this year will surpass the 6.2-million tonne export target and earn $1.83 billion.

With 4.2 million tonnes of rice exported in the first eight months of the year and a forecast of 1.9 million tonnes for the third quarter and 1.4 million tonnes for the fourth quarter, the country's rice exports for 2014 will likely reach 6.3 million tonnes, excluding unofficial exports in small quantities through the borders, the association said.

Rice demand in import markets from now till year-end are also trending upwards, the association added. It cited the Philippines and Indonesia, which will each import about 500,000 tonnes of rice from October to December and are expected to import more.

The Viet Nam Association of Seafood Exporters and Producers also predict the industry's export revenue this year to increase by 13 per cent more than that of last year to $7 billion. Shrimp is expected to be the industry's biggest earner at $3 billion.

Reach Southeast Asia!
10- Nations, 560- Million Consumers
And $1 -Trillion Market
We are the Voice of Southeast Asia Media Kit
The only Media Dedicated to Southeast Asia Advertising Rates for Magazine
Online Ad Rates

Comment on this Article. Send them to

Letters that do not contain full contact information cannot be published.
Letters become the property of AseanAffairs and may be republished in any format.
They typically run 150 words or less and may be edited
submit your comment in the box below

Today's  Stories                            September 15, 2014 Subsribe Now !

• Myanmar's GDP per capita could reach $5000 by 2030, forecasts Asian Development Bank
Subcribe: Asean Affairs Global Magazine
• SMEs Association eyes incentives for SMEs to expand overseas
• PM inspects flood situation in Sukhothai
Research Reports
on Thailand 2007-2008

• Textiles and Garments Industry
• Coffee industry
• Leather and footwear industry
• Shrimp industry

• Trade surplus forecast on export growth
• Maximum land price to be increased
Asean Analysis                    September 12, 2014

• Asean Analysis September 12, 2014
Thailand BoI’s Schemes Change along with its Priorities
Advertise Your Brand

Asean Stock Watch    September  12, 2014
• Asean Stock Watch-September 12, 2014
The Biweekly Update
• The Biweekly Update  September 5, 2014

ASEAN NEWS UPDATES      Updated: 04 January 2011

 • Women Shariah scholars see gender gap closing
• Bank Indonesia may hold key rate as inflation hits 7 percent
• Bursa Malaysia to revamp business rules
• Private property prices hit new high in Singapore • Bangkok moves on mass transport
• Thai retailers are upbeat
• Rice exports likely to decline • Vietnamese PM projects 10-year socioeconomic plan


This year in Thailand-what next?

AseanAffairs   04 January 2011
By David Swartzentruber      

It is commonplace in journalism to write two types of articles at the transition point between the year that has passed and the New Year. As this writer qualifies as an “old hand” in observing Thailand with a track record dating back 14 years, it is time take a shot at what may unfold in Thailand in 2011.

The first issue that can’t be answered is the health of Thailand’s beloved King Bhumibol, who is now 83 years old. He is the world's longest reigning monarch, but elaborate birthday celebrations in December failed to mask concern over his health. More






1.  Verifier

1. Verifier

For security purposes, we ask that you enter the security code that is shown in the graphic. Please enter the code exactly as it is shown in the graphic.
Your Code
Enter Code

Home | About Us | Contact Us | Special Feature | Features | News | Magazine | Events | TV | Press Release | Advertise With us

| Terms of Use | Site Map | Privacy Policy  | DISCLAIMER |

Version 5.0
Copyright © 2006-2020 TIME INTERNATIONAL MANAGEMENT ENTERPRISES CO., LTD. All rights reserved.
Bangkok, Thailand