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Trade balance continues to improve (25/9)
25/09/2012 - 24 Lượt xem
Due
to unfavorable price and market changes, in August the export value
decreased by 3.8 percent or US$389 million compared with July, the
Ministry of Industry and Trade said.
The
decrease was attributed mostly to a decline by US$332 million in the
export value of fuels and minerals as well as a fall in prices of
agricultural products. In August 2012, export prices of most
agricultural products, except pepper, were lower compared with August
2011. For example, the export price of cashew nuts went down by 39
percent, rice 18 percent, and rubber 35 percent. Due to price falls,
the export value of agricultural products in August decreased by 2.3
percent compared with July and 7.8 percent compared with August 2011.
In
August, the export value of processing industry-related products
reached an estimated US$6.5 billion, up 0.3 percent compared with July
and up 13.3 percent compared with August 2011. In the first eight
months of 2012, the export value of these products reached US$46.52
billion, accounting for 63.4 percent of the total export value of the
whole country and up 25.4 percent compared with the same period last
year. The export value of telephones and components grew 134 percent;
cameras, film cameras and components up 230 percent; computers,
electronic products and components up 83.5 percent.
The
export value of fibers, textiles and garments continued to grow slowly
due to difficulties facing export markets. The consumer purchasing
power in the main export markets of Vietnamese textiles and garments
such as the EU, the US and Japan declined, therefore domestic companies
received less export orders. Importers ordered exports mostly from
large businesses with a strong production capacity while the number of
export orders received by small companies dropped sharply. Export
prices of textiles and garments also fell. However, textiles and
garments continued to take the lead in terms of export value, US$9.72
billion in the first eight months of 2012.
Thanks
to an increase in the export value of processing industry-related
products, the export value of the whole country in the first eight
months of 2012 grew 17.8 percent compared with the same period last
year. This was a satisfactory result.
Import
activities were effectively controlled, helping improve the trade
balance. In August 2012, the import value was estimated at about
US$9.95 billion, up 3.5 percent compared with July but down 1.2 percent
compared with last August. The import value of the first eight months
reached an estimated US$73.4 billion, up 6.7 percent compared with the
same period last year, much lower than the export growth.
Notably,
the import value of goods which must be tightly controlled and
restricted goods decreased considerably. The eight-month import value
of tightly controlled goods was estimated at US$2.77 billion,
accounting for 3.8 percent of the total import value and down 31.2
percent compared with the same period last year. The import value of
restricted goods was estimated at US$3.33 billion, down 9.5 percent.
Specifically, the import of fully-assembled autos with less than nine
seats dropped by 65 percent in volume and 71.6 percent in value;
fully-assembled motorcycles down 51 percent in volume and 37 percent in
value; mobile phones down 13 percent in value.
Thanks
to effective controls over imports, the balance of trade improved.
Trade deficit in the first eight months stood at around US$62 million,
equal to 0.08 percent of the export value.
Experts
predicted that the Vietnamese and global economies would continue to
face difficulties in the months to come. The Ministry of Industry and
Trade was required to keep a close watch on changes in the world market
so that it can provide export businesses with timely assistance. The
import of unessential goods and luxury consumer goods must be tightly
controlled in an effort to curb trade deficit and maintain
macroeconomic stability./.
Source: VEN
Source: VEN
