Google

ASEANAFFAIRS
Sign up | Log in

    ASEAN PROFILES

  ASEAN KEY DESTINATIONS

Home  >>   Daily News  >>   Vietnam News  >>Trade  >> Trade surplus tops $1.46b in first half of this year
NEW UPDATES Asean Affairs 23 July 2014  




Trade surplus tops $1.46b in first half of this year

Vietnam: The country had a trade surplus of US$1.46 billion by July 15, according to statistics from the General Department of Customs.

The department reported that the country's export and import turnover in the period reached $152.03 billion, up 12.9 per cent year on year. Of the total, export accounted for $76.75 billion, up 14.7 per cent.

In the first half of July, the export value was $5.82 per cent, down 11.2 per cent against the second half of June. Garment and textile was the only export staple whose revenue exceeded $1 billion in the period.

The import revenue in the first half of July was also down 6.9 per cent to reach $6.02 billion. Machines, equipment and materials were the items with the highest import value.

Foreign-invested firms remained the biggest contributor to the country's export with a value of $3.54 billion in the first half of July, raising the total export in the period between January and July 15 to $47.15 billion. The firms spent $3.44 billion and $42.28 billion on imports in the first half of July and in the January-to-July period, respectively.

Based on the export results till date, the Ministry of Industry and Trade (MoIT) forecast that the country's export value this year would reach roughly $146 billion, up 10.6 per cent compared with the previous year. The import value, meanwhile, would reach $145.5 billion, up 10.2 per cent. So Viet Nam would have a trade surplus of roughly $500 million this year.

However, the ministry noted that it would not be easy to achieve these results because the economy still faces numerous difficulties. The competition between countries which export to large markets such as the US, Japan and the Republic of Korea is becoming increasingly fierce. The export of agricultural and forest products and seafood continues to face difficulties in terms of price and market.

To achieve the annual export targets, deputy director of the MoIT's Export and Import Department Phan Thi Dieu Ha said that the ministry had issued some instructions and proposed measures to boost exports, especially the export of agricultural products and seafood.

Recently, the MoIT and the Ministry of Agriculture and Rural Development met to discuss market-related issues to help businesses boost exports. They agreed that it was necessary to maintain a close relationship between agricultural production, the processing industry and value chains in order to create high-quality agricultural products.



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
Contact: marketing@aseanaffairs.com

Comment on this Article. Send them to  your.views@aseanaffairs.com

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
 
or
submit your comment in the box below



 
Today's  Stories                            July 23, 2014 Subsribe Now !
• ASEAN and ROK Prepare for Commemorative Summit in Busan Subcribe: Asean Affairs Global Magazine
• Trade surplus tops $1.46b in first half of this year
• The MDA wants to make Malaysia a market to watch
Research Reports
on Thailand 2007-2008

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

• PM's pledge to bring back bodies of MH17 crash victims almost a reality
• Gov't greenlights auto industry plan
Asean Analysis                    July 23, 2014

• Asean Analysis July 23, 2014
Dealing with America’s China Problem in Asia – Targeting China’s Vulnerabilities
Advertise Your Brand

Asean Stock Watch    July 22, 2014
• Asean Stock Watch-July 22, 2014
The Biweekly Update
• The Biweekly Update  July 11, 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

ASEAN  ANALYSIS

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

 


Name

Name


Email

Email



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

Our Products | Work with us | Terms of Use | Site Map | Privacy Policy | Refund Policy | Shipping/Delivery Policy | DISCLAIMER |

Version 5.0
Copyright © 2007-2015 TIME INTERNATIONAL MANAGEMENT ENTERPRISES CO., LTD. All rights reserved.
Bangkok, Thailand
asean@aseanaffairs.com