Vietnam’s export businesses benefit from EVFTA
HCMC – Vietnamese exporters have taken advantage of the European Union–Vietnam Free Trade Agreement (EVFTA), especially the trade liberalization policy of phasing out over 90% of tariffs on the exchange of goods within seven years. The import-export turnover between Vietnam and European countries
Tuna fish export revenue hits US$1b for first time
HCMC – Tuna fish export revenue had reached US$1 billion in the year to December 21, expectedly further rising to US$1.03 billion by the year’s end, according to the Vietnam Association of Seafood Exporters and Producers (VASEP). Among the tuna export items in the first 11 months this year, frozen
Large amount of sugar imported in 2021-2022 crop
HCMC – Vietnam imported a large proportion of sugar in the 2021-2022 crop to meet the domestic demand despite an 8.3% year-on-year increase in sugar output to 750,000 tons. There was a massive shortage of sugar though the country had many sources of sugar supply, such as local production, tariff
Vietnam sees higher agro trade surplus
HCMC – The agricultural sector’s trade surplus in 2022 is estimated to reach US$8.5 billion, improving 30% against the year-ago figure, according to statistics of the Ministry of Agriculture and Rural Development. Vietnam saw a 9.3% year-on-year increase in agricultural exports in 2022, at over
Vietnam’s export sector pins hopes on China’s reopening
HCMC – Vietnam’s exporters of tra fish, textiles and garments and rubber are pinning their hopes on China’s gradual reopening, according to VnDirect. According to the Vietnam News Agency, China started in early December to roll back many Covid-19 restrictions. Over the past three years, China has
Over US$8 billion spent on fuel imports from Jan-Nov
HCMC – Vietnam spent around US$8.12 billion importing 7.89 million tons of fuel between January and November, up 23.9% in volume and 119.6% in value versus the year-ago period, according to the General Department of Vietnam Customs. Among those, the country imported 4.27 million tons of diesel
Vietnam remains world’s biggest pepper exporter
HCMC – Despite pepper export volume tumbling due to China’s zero-Covid policy, global inflation and economic uncertainties in many countries, Vietnam has remained the world’s biggest pepper exporter this year. Data from the Vietnam Pepper Association (VPA) showed that the country had shipped over
Vietnam, Germany step up logistics cooperation
HCMC – Vietnamese and German officials and businesses signed a memorandum of understanding (MOU) on logistics cooperation yesterday, December 21, focusing on air freight transportation. The parties included the authorities of Leipzig City, Invest Region Leipzig, VietjetAir Cargo Joint Stock
Import-export value predicted to grow next year
HCMC – Imports and exports are expected to become a bright spot and an economic driver despite anticipated challenges and hardships next year. Economists expected the global market to regain momentum in 2023 after a year of tight spending. That, coupled with an impressive import-export turnover of
Veggie, fruit exports expected to maintain high growth next year
HCMC – Vietnam’s vegetable and fruit exports have achieved steady growth in the fourth quarter of this year and are expected to reach US$4 billion next year, according to the Vietnam Fruit and Vegetable Association (VINAFRUIT). Data from the General Department of Vietnam Customs showed vegetable
Fuel prices fall slightly
HCMC – Domestic fuel retail prices were adjusted down by VND70-500 per liter or kilogram today, December 21, according to an announcement jointly released by the ministries of Industry-Trade and Finance. RON 95-III gasoline now sells for VND20,700 per liter, down by VND500 and the price of E5 RON
Vietnam imports over 163,000 CBU cars this year
HCMC – Vietnam had spent US$3.62 billion importing 163,333 completely-built-up (CBU) cars in the year to December 15, surpassing 2021’s full-year figure of nearly 160,000 units, according to statistics released by the General Department of Vietnam Customs. Last month, the number of CBU cars