The total earnings in the first ten months was equal to the total turnover in 2005. By November, it was just 3.9% under the 2006 export plan. Vietnam has exported over US$3.3 billion per month, larger than the country’s turnover in 1993. Imports are projected to reach US$44.8 billion, about 22% higher than last year. Trade deficit has narrowed to 12.8%, the lowest ever.

There have been 10 remarkable things that have happened in national exports and imports in 2006.

1. Export and import bodies have been working smoothly since the early days of the year despite “lunar January is for being on the loose.” During the days off on Tet Nguyen dan (traditional New Year), the northern ports were crowded. Hence, in the first quarter of the year, Vietnam had trade balance for the first time. Trade deficit has returned to a small degree since the second quarter. It is noteworthy that source technology, new techniques, and potential technology have been imported in spite of the reduction of the trade deficit.

2. A year of numerous records: fisheries addressed difficulties in materials of aquatic products and investigated antibiotics showing up in seafood. Shoes dealt with an anti-dumping case. However thanks to new export products and new markets, Vietnam exports obtained the level of US$3 billion. Rubber ranks first in terms of growth rate and becomes a member of the US$1 billion club. Tea reached above the level of US$100 million.

3. Localities enjoy high export growth rate. For the first time, Hai Phong earned US$1 billion from exports, about 24.8% higher than last year. Thanh Hoa enterprises signed direct export contracts earlier than previous years and more enterprises have participated in exporting. Vinh Phuc looked for new markets for handicraft and agricultural and fishery products. Kien Giang exported dry coconut for the first time. It is said that 2006 exports of Quang Nam were 33% higher than last year.

4. Vietnam’s enterprises moved from passive position to be active in approaching goods distribution systems in other markets. This is to create sustainable export. The Truong Thanh wood corporation contacted wholesale systems and distributors to sell directly to consumers.

5. 2006 is the first year to renew long-term measures and the management of the National Trade Promotion Programme under Decision No. 279 dated December 3, 2005 issued by the Prime Minister to: help enterprises to have easier access to the Programme; simplify payment procedures; give more flexibility to authorities involved in setting up and adjusting items of the Programme; manage state budget for trade promotion. The 2007 trade promotion programme was ratified in 2006. And based on outcomes of “Vietnam’s days abroad”, the government decided to organise this kind of event every year to publish and advertise Vietnam’s images abroad.

6. Exports to other countries earn significant figures. Export earnings from all markets, traditional, key, and adjacent alike, have been on the rise. Two-way trade between Vietnam and China reached US$10 billion. Vietnam’s exports to Cambodia were over US$1 billion.

7. Vietnam takes the initiative in issuing export – import mechanism more appropriate with WTO regulations ahead of WTO accession. It is Resolution 12 dated January 23, 2006 on international goods purchase, activities of agents which have been doing purchase, processing activities with foreign partners. It is Resolution 19 dated February 20, 2006 on goods origin.

8. Temporary cease in rice exports during the time of epidemic diseases for rice.

9. Some small volume products develop surprisingly. These products namely iron, rubber, cassava, remain on the list of other goods but have seen a turnover higher than peanuts - a key export product.

10. The national e-commerce gate (ECVN) celebrated its first anniversary in August 2006. This is the top electronic exchange place for enterprises. By the end of 2006, there were 1,500 members and about 5,000 business opportunities

Source: VNECONOMY