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NEW UPDATES Asean Affairs  30 October 2014  





Trade surplus hits $1.87b as high-value exports rise

Garment products are manufactured at Garment 10 Corporation. Garments and textiles were among products with high export value. — VNA/VNS Photo Tran Viet

HA NOI (VNS) — Viet Nam has recorded consecutive trade surpluses in the first 10 months of 2014, with the total now standing at US$1.87 billion, according to the General Statistics Office (GSO).

The GSO said the country had enjoyed a trade surplus since the beginning of this year, achieving a trade surplus of $1 billion in the first quarter, $1.3 billion in the first half and $2.5 billion in the first nine months.

During the first 10 months, the nation's exports earned $123.75 billion, a 13.4-per cent year-on-year increase, and its imports reached more than $121.2 billion, an 11.2-per cent year-on-year increase.

Exports of the foreign-invested sector earned $82.48 billion, or two-thirds of the country's total exports, and its imports reached $68.66 billion, thereby achieving a $13.8-billion trade surplus.

Meanwhile, the State-owned sector experienced a significant trade deficit of $11.95 billion. From January to October, its exports reached $40.59 billion while its imports reached $52.54 billion, a 12-per cent year-on-year increase.

Exports of high value include telephone and components with $19.16 billion, a 6.9-per cent year-on-year increase; garments and textiles with $17.62 billion, a 19.3-per cent year-on-year increase; and electronics, computers and components with $8.7 billion, the same figure as that of last year.

Other exports include seafood with $6.51 billion, a 20.6-per cent year-on-year increase; crude oil with $6.27 billion, a 5.4-per cent year-on-year increase; and machinery and equipment with $6 billion, a 20.3-per-cent year-on-year increase.

According to GSO, China remained Viet Nam's biggest source of imports with $35.6 billion, a 17.1-per cent year-on-year increase, followed by the ASEAN with $19 billion, a 6.6-per cent year-on-year increase; South Korea with $17.1 billion, a 2.7-per cent year-on-year increase; Japan with $10.3 billion, a 7.9-per cent year-on-year increase; and the European Union with $7.5 billion, a 3.3-per cent year-on-year increase.

The GSO advised domestic companies to expand their import-export markets to reduce dependence on the Chinese market and avoid possible risks.


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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.

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