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Exports rise 29%, but trade deficit remains high (28/02)
06/08/2010 - 28 Lượt xem
Meanwhile, import value for the same period hit $12.9bil, soaring 63.7%. The jump in imports has driven trade deficit in the first two months of the year to $4.2bil, representing 48.3% of all exports.
The foreign-invested sector accounted for 58.6% of all exports and nearly 50% of total imports.
Economists from GSO said that escalating prices in world commodities markets have driven up Vietnam's exports earnings, but also pushed up the costs of Vietnam's major imports.
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Binh Duong earns $906mil in exports |
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Export value of the southern province of Binh Duong reached over US$906mil in the first two months of the year, a year-on-year increase of 25%, according to provincial statistics. Exports of wood products attained $197mil, up 29.3%; footwear reached $114.6mil, up 15%; and textiles and garments reached $114.4mil, a 2.7% increase. The foreign-invested sector, which accounted for 76.4% of the total, saw a 31% rise, while the non State-owned sector rose 12.7%. The province earlier in the year approved a stimulus plan for its key exports from now until 2010. |
The nation's main export goods include crude oil, light industrial products and agricultural, forest and aquatic products.
In the first two months, crude oil exports declined 11.4% in quantity to 2.3mil tonnes, but increased 46% in value to $1.68bil. Textiles and garments increased nearly 42% to $1.5bil, while footwear increased 25.3%, to nearly $770mil.
Rice exports were up 26.5% in quantity to 331,000 tonnes and 54% in value to $130mil; tea rose 56.5% to reach $21mil. Pepper sky-rocketed 80% in value.
Of all imports, machinery and equipment were the most sought after, surging 32.6% to $2.2bil, followed by petrol which rose 71% to $1.6bil. Iron and steel were not far behind, increasing 2.6 times over the same period last year to almost $1.5bil.
Fertiliser imports doubled in value to $212mil. Plastic and chemical imports climbed 50% to $485mil and $296mil, respectively.
Complete-built automobile imports have surged dramatically so far this year. About , 9,700 units were imported, worth some $187mil, up 5.5 times in terms of volume and 3.3 times in value.
Source: Viet Nam News
