Vietnam’s trade surplus hits 2.7 billion USD in 2017

Vietnam and Thailand are striving to increase bilateral trade to 20 billion USD in 2020, as heard a business connectivity conference in Ho Chi Minh City on September 29.Thai Consul General in HCM City Ureerat Ratanaprukse stated Vietnam and Thailand are key economic partners, with leaders of both sides agreeing to boost comprehensive trade ties.The agreement lays the basis for Vietnamese and Thai firms to work together and involve in global and regional supply chains.Pham Thanh Kien, head of the HCM City Department of Industry and Trade, said the southern city is a potential destination for Thai products, which have…... [read more]

Hanoi (VNA) – Total import-export revenue thisyear reached 400 billion USD in mid December, representing a fourfold increasein ten years.At a ceremony marking the record figure held in Hanoi onDecember 19, Deputy Prime Minister Vuong Dinh Hue said the country firstachieved 100 billion USD in foreign trade value in 2007, the year it joined theWorld Trade Organisation.The figure rose to 200 billion USD in 2011, and 300 billionUSD in 2015. Hue noted that it took Vietnam just two years to push thenumber to 400 billion USD.He attributed the outcome to concerted efforts of the entirenation and praised the customs sector…... [read more]

Indonesia recorded a trade surplus for the second consecutive month in September, as exports of the country’s main commodities increased (Illustrative photo: VNA)Hanoi (VNA) – Indonesia recordeda trade surplus for the second consecutive month in September, as exports ofthe country’s main commodities increased, said the Indonesian statisticsagency.Indonesia’s trade surplus reached1.76 billion USD in September, compared to the Reuters forecast of 1.18 billionUSD and the surplus of 1.72 billion USD in August.The country’s exports in Septemberincreased 15.6 percent year-on-year, standing at 14.54 billion USD. Meanwhile,imports climbed 13.13 percent year-on-year, to 12.78 billion USD.Indonesia’s trade surplus inSeptember was supported by shipments of commodities…... [read more]

Figures released by the department showed that the country's totalimport and export revenue reached 170.1 billion USD in the first eightmonths of this year, increasing 14.8 percent on last year's figures andachieving 67.6 percent of the year's target. Thecountry earned 85.16 billion USD from exports, accounting for a 15percent increase on the same period last year. Meanwhile, Vietnamimported 84.99 billion USD in the in the first eight months of the year,representing a 14.4 percent increase. Last month, thecountry reaped 11.92 billion USD and imported 11.32 billion USD,increasing 2.8 percent and 0.9 percent increase against the previousmonth. Key export items including…... [read more]

This year, provincial export turnover ispredicted to hit 17.741 billion USD, up by 17.5 percent compared to lastyear, with the foreign-invested sector making up 82 percent of thetotal export value. Exports of footwear, textiles, garments, and woodproducts are forecast to reach more than a billion USD. Meanwhile, Binh Duong’s imports are estimated at 13.732 billion USD, ayear-on-year increase of 17.7 percent, of which the foreign-investedsector accounts for 78 percent. The locality’s biggest imports are rawmaterial, machinery and equipment. Vo Van Cu, Director of themunicipal Department of Industry and Trade said the export market isstable and continues to grow, especially in…... [read more]

The export figure, with 83.1 percent contributed by foreign investors, marked a trade surplus of more than 2 billion USD. Industrial production was valued at more than 131 trillion VND (6.2billion USD), a year-on-year rise of 13.6 percent, Director of theprovincial Department of Industry and Trade Vo Van Cu said. During this period, 99 foreign-invested firms poured an extra 727million USD into the locality, while 275 local firms registered anincrease in capital of 2 trillion VND (90 million USD). In thepast, Binh Duong offered tax breaks and exemptions worth close to 1.3trillion VND (61 million USD), and a 45 million…... [read more]

The southern province of Binh Duong reported a total exportturnover of 6 billion USD, a year-on-year increase of 16.3 percent, and atrade surplus of over 1 billion USD for the January-June period. In particular, the foreign-invested sector accounted for 83.4 percentof the total export turnover, up 18.7 percent from the same period lastyear. Director of the provincial Department of Tradeand Industry Vo Van Cu attributed the good export performance to morestable foreign exchange and material price, dropping interest rates, andrecovering foreign markets such as the US , the EU and Japan . He noted that the export turnover of labour-intensive…... [read more]

During the period, seafood brought home 7.2billion USD and is to earn 7.8 billion USD by the end of the year,Deputy Minister of Agriculture and Rural Development Vu Van Tam reportedat the first meeting of the aquatic disease prevention and controlsteering committee in Hanoi on December 4. He wasoptimistic that the maintenance of the trend would make the exporttarget of 8 billion USD set for 2015, which was stated in the sector’sstrategy by 2020, reachable. To ease farmers’ andexporters’ worries about common parasites and diseases that couldaffect aquatic animal health and export, the aquatic diseaseprevention and control steering committee was…... [read more]

Yarn produced at the Dong Phat JSC in Hanoi. (Source: VNA)Hanoi (VNA) - Free trade agreement between Vietnam and the Republic of Korea (VKFTA) would be an effective channel to increase the bilateral trade to 70 billion USD in 2020, said an official of the Trade Promotion Agency under the Ministry of Industry and Trade. Bui Huy Son, head of the agency, said the VKFTA was signed on May 5, 2015 and came into effect on December 20, 2015. One key point of the FTA was to basically not have any direct competition in trade between the two countries. This would…... [read more]

According to the Vietnam General Department of Customs, two-way tradereached 422 million USD in the first quarter of this year, including207.7 million USD worth of Vietnamese exports to Brazil, up 41.9percent, and 214.3 million USD for imports from the country, down only1.4 percent from last year’s same period. Vietnam’skey exports to Brazil include footwear, seafood, machinery,equipment, and computers, as well as electronic parts, telephones,garments, bags, hats, umbrellas, steel products and transport vehicles.From Brazil, it imports steel, cotton, automobile parts, tobacco,wood products, apparels and footwear materials. As the world’ssixth biggest economy with a population of 195 million, the Brazilianmarket offers great…... [read more]