Vietnam’s foreign trade plunges in April
HCMC – Vietnam’s foreign trade continued trending down in April, with export revenue and import spending plunging 17.1% and 20.5% over the same period last year, respectively, showed official data. Figures from the General Statistics Office (GSO) showed that export revenue in April totaled
China purchases this product from Vietnam at exceptionally high prices
Not yet the biggest customer, China is paying sky-high prices to buy tea from Vietnam in the first months of this year.
Worn out
Vietnam’s gross domestic product (GDP) in January-March expanded by 3.32% over the same period of last year, slightly higher than 3.21% in the first quarter of 2020. The agro-forestry-fisheries and services sectors grew by 2.52% and 6.79%, contributing 8.85% and 95.91% to the economy’s gross value
Vietnamese rice is increasingly asserting its position in the world
In the first three months of 2023, Vietnamese rice exports gained 1.79 million tons and 952 million USD, up 19.3% in volume and up 30.2% in value over the same period as 2022, according to the General Department of Customs.
A bad omen for export companies
The global economic slump has weighed heavily on Vietnam’s key product exports, placing labor-intensive enterprises in the billion-dollar export “club” in peril Leading exports hit hard Since last August, a lack of orders has forced firms to cut working hours and lay off employees. As a result,
Hoa Binh ships first batch of fresh sugarcane to U.S.
HCMC – The northern upland province of Hoa Binh yesterday, March 19, shipped its first batch of 20 tons of newly harvested sugarcane to the U.S. A ceremony was co-held by the provincial Department of Agriculture and Rural Development and Tien Ngan Trade and Investment Company to mark this
Exploring new markets
Headwinds from slumping demand may pose further challenges for Vietnam’s export sector. To overcome difficulties, exporters need to gain a stronger foothold. What does a plunge in new orders indicate? New orders have dived among Vietnam’s key export industries, such as apparel, footwear and wood,
FDI sector’s foreign trade down in Jan-Feb
HCMC – Sharp drops in new orders led the foreign direct investment (FDI) companies achieving only US$68.2 billion in import and export value in the first two months of this year, falling by US$9.15 billion against the same period last year. Recent data of the General Department of Vietnam Customs
Vietnam posts US$1.7 billion trade surplus in mid-February
HCMC – Vietnam has seen a trade surplus of US$1.68 billion in the year to February 15, with the surplus of the first half of February alone contributing US$1.1 billion, official data showed. Of the amount, Vietnam’s goods exports in the first half of February amounted to US$13.4 billion, up 49%
Retail sales of goods and services seen growing 8-9%
HCMC – Vietnam’s trade sector is set to achieve 8-9% growth in retail sales of consumer goods and services this year. At the 2023 conference on domestic production and consumption promotion and export market expansion yesterday, Minister of Industry and Trade Nguyen Hong Dien said the supply of
State budget revenue from import-export activities drops in January
HCMC – State budget revenue from imports and exports totaled over VND24.8 trillion in January 2023, down 42.3% year-on-year, showed data of the General Department of Vietnam Customs. The fall in January’s State budget revenue is attributed to the week-long Lunar New Year holiday that fell in
UK imports from Vietnam in 2022 put at over US$6 billion
HCMC – United Kingdom (UK) imports from Vietnam amounted to US$6.06 billion last year, rising by 5.2% over 2021, according to the General Department of Vietnam Customs. Phones and phone parts were Vietnam’s biggest export earner to the UK, at US$1.13 billion, accounting for 18.7% of the total.