Showing posts with label export turnover. Show all posts
Showing posts with label export turnover. Show all posts

Wednesday, January 19, 2011

Export staples join $1b club

HA NOI — With export turnover of more than US$1 billion each by September this year, coal, rubber and steel joined the country's $1 billion club, according to the Ministry of Planning and Investment.

The new additions lifted the number of the country's export staples with turnover of more than $1 billion to 13. The others include garments, footwear, crude oil, seafood, gemstones, wooden products, electrical goods, computers, machinery and vehicles.

Deputy Minister of Industry and Trade Nguyen Thanh Bien said the increasing cost of many export staples helped raise the country's total export turnover in the first nine months of the year to $51.5 billion, up 23.2 per cent year-on-year.

During the period, around 48 per cent of Viet Nam's exports went to the Asian market, followed by America with 23 per cent and Europe with 22 per cent.

Bien attributed the export growth to the State Bank of Viet Nam's decision to lift the inter-bank rate by 2.1 per cent in August as part of the effort to boost exports and curb the trade deficit.

Industry insiders forecast the trade sector would meet the Government's export target of $61 billion this year, given a number of key export industries including apparel still had fresh orders coming in.

To meet the target, the Ministry of Planning and Investment has asked customs officials to scrutinise current procedures to ease the import of materials for export production.

Besides capitalising on advantages created by Free Trade Agreements, the Ministry of Industry and Trade has also boosted other bilateral and multilateral negotiations to help exporters enlarge their markets. — VNS

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Saturday, January 15, 2011

Fruit industry upgrade urged

HCM CITY — Viet Nam has great potential for exporting fruit and vegetables but needs to develop its processing industry and upgrade sanitary condition to meet strict international standards, experts have said.

The country exports fruit and vegetables to more than 50 countries, according to the Southern Fruit Research Institute.

The General Department of Statistics reports, export turnover for fruit and vegetables rose from US$151.5 million in 2003 to $437 million in 2009.

The country expects to reach export turnover of $760 million by the end of the year, according to the Ministry of Agriculture and Rural Development.

During the last several years, the country has exported about 260,000 tonnes of fruit annually, with an export turnover of $75 million per year, according to the Southern Fruit Research Institute.

The number of major export markets grew from 13 in 2004 to 17 this year, including mainlandChina, Taiwan, Hong Kong, Thailand, Singapore, the Netherlands, Russia, Japan, the US and Australia.

China has the most potential, accounting for 41 per cent of the export turnover.

But after China signed a preferential tax agreement with Thailand, Viet Nam's fruit exports have fallen due to higher tariff duties imposed by China.

In 2004, after it joined the World Trade Organisation (WTO), China also set higher standards for imported fruit, which has also affected Vietnamese fruit exports.

Popular exported fruits from Viet Nam include pineapple, dragonfruit, banana, rambutan, longan, mango, mangosteen and durian.

Dragonfruit is the country's leading exported fruit. Key export markets for Binh Thuan dragonfruit (mostly cultivated in central Binh Thuan Province) are Southeast Asia and China.

The dragonfruit export market has also expanded to Germany, the Netherlands, Italy, France and the US.

However, the fruit's export turnover dropped from $17.17 million in 2007 to $15.28 million in 2009.

Today, the requirements of quality and safety for the export market, is stricter, posing many challenges in the near future, according to the Southern Fruit Research Institute.

Processed-fruit industry

According to the institute, Viet Nam has potential to develop a fruit and vegetable processing industry, but has failed to exploit it to the fullest.

Mango, grapefruit, custard apple, durian, orange, banana, dragonfruit, guava, watermelon, eggplant and chili are among the fruits and vegetables that could be processed.

The country has 49 fruit and vegetable processing factories with a total capacity of more than 300,000 tonnes of products per year.

They include 12 factories in the southeastern region, with a capacity of 93,100 tonnes of products per year; 10 factories in Cuu Long (Mekong) Delta, with 77,060 tonnes of products per year; and 10 factories in the Red River Delta, with 60,800 tonnes of products per year.

However, several processing factories closed soon after opening, while others have operated inefficiently due to the lack of advanced technology, raw materials for processing, capital and markets.

Most fruit processing factories are operating at only 30 per cent of their capacity.

Fruits sold in markets are mostly unprocessed, fresh fruits. Only 11 per cent of fresh fruits are used for processing.

The investment in the industry has not been managed well, said Nguyen Van Phong, manager of the post-harvest department of the Southern Fruit Research Institute.

According to the Institute for Agriculture Planning, the country failed to create a value chain for the entire process "from field to fork".

Preservation following harvests is still weak, which affects the processing step, resulting in low-quality products, the institute said.

The strategy for developing agricultural processing products still lacks links between relevant companies and units during the entire field-to-fork process.

Fruit processing products include juices made from grapes, oranges, strawberries, apples and others; dried fruits like lichee, longan, jackfruit, grape, banana and others; and fruit jams made from plum, strawberry, apple, tamarind, custard apple and others.

The output for fruit and vegetable processing remains low, while the diversity of the products is still limited, mostly focusing on canned fruit and dried fruits.

Other processing products like fermented fruits products and powdered fruits are still using outdated, manual technologies.

Recently, Viet Nam has begun buying advanced assembly lines or technologies for processing fruits such as canned fruits and dried fruits.

The total area for fruit cultivation in Viet Nam is one million hectares, of which the Mekong Delta has the largest area.

Fruits that have large output per year include banana, which accounts for 1,511,300 tonnes (21.5 per cent); longan, 607,700 tonnes (8.68 per cent); mango, 537,900 tonnes (7.68 per cent); grapefruit, 389,400 tonnes (5.56 per cent); lychee, 301,100 tonnes; dragonfruit, 288,400 tonnes; rambutan, 269,000 tonnes; durian, 134,894 tonnes; and star apple, 96,860 tonnes.

According to the Ministry of Agriculture and Rural Development, the country's total output of fruit reached 4.5 million tonnes in 2000, 6 million tonnes in 2005 and 7 million tonnes in 2009.

The total area for cultivating vegetables of Viet Nam reached 700,000ha with a total output of 14 million tonnes, of which 100,000ha is for clean vegetables cultivated with high technology.

Developing the processing industry could help ensure sales for agricultural products, thus adding to the value of Vietnamese fruit exports, according to the ministry. — VNS

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Thursday, January 6, 2011

Garments continue topping list of exports

Posting an export turnover of 8 billion USD in the first nine months of
this year, garments continued taking the lead amongst export staples
since the beginning of 2009.


The export of garments
to the Republic of Korea saw the highest growth rate of 84 percent,
mainly thanks to a reduction in tariff in line with the ASEAN-RoK Free
Trade Agreement, while the export to the US , which accounts for 55
percent of the industry’s revenues, also grew by 20 percent.


In particular, garment exports to the European market have bounced
back in the past three months, at 7 percent, following a long period of
dropping.


Vice Chairman of the Vietnam Garments and
Apparel Association (Vitas) Le Van Dao said a number of domestic garment
companies have received orders for the first half of 2011, plus prices
have risen by 10-15 percent year-on-year.


A
representative of the Ho Chi Minh City-based Viet Hung Garment Joint
Stock Company said the business has recently signed contracts to export
1.2 million items to Japan in early 2011.


Vietnam ’s garment firms will also have the opportunity to boost
exports and investments to Laos and Cambodia as the European Union
(EU) has decided to grant references in terms of material origin to the
two nations.


With these advantages, Dao said the
industry is likely to reach the yearly target of 10.5 billion USD in
export turnover right in November.


To achieve
sustainable development, garment businesses have also paid due attention
to the domestic market by participating in programmes which are
designed to encourage local consumers to use Vietnamese goods and bring
Vietnamese goods to rural areas.


Many supermarkets
under the Vietnam Garment and Textile Group have embarked on plans to
expand foothold in the domestic market in an effort to record a retail
sale growth rate of between 17-20 percent in 2010./.

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Wednesday, December 15, 2010

Agro-forestry-seafood exports continue soaring

The , a year-on-year increase of 22.3 agro-forestry-seafood sector earned US$1.75 billion from exports in September, raising its total export turnover in the first nine months of the year to $13.93 billionpercent.

Of the total, agricultural products brought home $7.32 billion, up 21 percent and seafood, $3.47 billion, up 14.2 percent.

Rice topped the list of agro-forestry products in terms of both export volume and value with 5.55 million tons worth $2.56 billion in the nine-month period, representing respective increases of nearly 12 percent and over 14 percent. The prices of Vietnamese rice have come close to those of Thailand , the world’s largest rice exporter.

Several other agricultural products also recorded increases in both export volume and value, including coffee with 925,000 tons, earning over $1.3 billion, up 4.2 percent in volume and nearly 1 percent in value. Germany was Vietnam ’s largest coffee consumer with 13.5 percent of the country’s total export volume, followed by the US with 12.7 percent.

Rubber exports rose only 10.9 percent in volume but saw a double growth in value compared to the same period last year thanks to an 86-percent increase in price. In the first nine months, Vietnam shipped 531,000 tons of rubber, earning $1.45 billion. China was Vietnam’s biggest rubber importer that accounted for over 57 percent of the country’s total export value.

The country’s tea export turnover reached $146 million, soaring 16.7 percent year-on-year while the export volume increased only 4 percent with 100,000 tons. Pakistan was the largest importer of Vietnam ’s tea products, followed by Taiwan and Russia .

Vietnam remained the number one cashew nut exporter in the world. In the reviewed period, the country exported $143,000 tons worth $780 million, up 10 percent in volume and 30 percent in value. Vietnamese cashew nuts were shipped to 50 countries and territories worldwide with the US being the largest consumer, accounting for nearly 34 percent of the country’s total export value.

Pepper saw a decrease of 5.6 percent on volume but its export value was up over 30 percent over last year’s correspondent period with 102,000 tons and $345 million respectively.

Forest products and timber recorded a high export turnover of $2.6 billion. However, the nine-month import turnover of timber material still reached $827 million despite a year-on-year drop of up to 30.9 percent.

Seafood continued to affirm itself as the country’s strategic export item with $3.5 billion in nine-month export turnover. Japan and the US were the two largest consumers of Vietnamese seafood with respective proportions of 18.4 percent and 18 percent.

In the nine-month period, Vietnam imported $9.5 billion worth of materials for agro-forestry-seafood production, up over 27 percent year-on-year.

 

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Tuesday, December 14, 2010

Export turnover increases 23.2 percent

The country's export turnover reached an estimated US$51.5 billion during the first nine months of the year, an increase of 23.2 percent compared to the same period last year, reported the General Statistics Office.

The domestic sector earned $24.1 billion, a 19.7 percent increase, while the foreign-investment sector fetched $27.35 billion (including crude oil), a 26.5 percent increase.

Export commodities earned more than $1 billion in revenue.

Coffee, cassava and cassava products, and crude oil declined in export turnover in comparison to the same period last year.

The country imported $60.1 billion in commodities during the first nine months, an increase of 22.7 percent compared to the same period last year.

Imported commodities that earned the highest import turnovers included textiles, up 26 percent ($3.84 billion); electronics, computer and computer accessories, 30.6 percent ($3.5 billion); metals, 72.8 percent ($1.8 billion); and plastics, 36 percent ($2.7 billion).

According to the GSO, the trade deficit was restrained to $8.6 billion during the first nine months of the year, which accounted for only 16.7 percent of the total export and import turnover.

The GSO's Commerce Department director Le Minh Thuy said the current trade balance lacked equilibrium as export turnover rose due to inflated prices of several export commodities, including crude oil, cassava, coal, pepper and cashew nuts.

Gold and gold products accounted for a major proportion of export revenues. If the GSO did not include gold exports, the trade deficit during the first nine months of the year would have been $11.4 billion instead of $8.6 billion.

Thuy said tough policies concerning import controls needed to be implemented to ensure the efficient development of the export sector.

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Monday, December 13, 2010

Export turnover increases 23.2 percent

The country's export turnover reached an estimated US$51.5 billion during the first nine months of the year, an increase of 23.2 percent compared to the same period last year, reported the General Statistics Office.

The domestic sector earned $24.1 billion, a 19.7 percent increase, while the foreign-investment sector fetched $27.35 billion (including crude oil), a 26.5 percent increase.

Export commodities earned more than $1 billion in revenue.

Coffee, cassava and cassava products, and crude oil declined in export turnover in comparison to the same period last year.

The country imported $60.1 billion in commodities during the first nine months, an increase of 22.7 percent compared to the same period last year.

Imported commodities that earned the highest import turnovers included textiles, up 26 percent ($3.84 billion); electronics, computer and computer accessories, 30.6 percent ($3.5 billion ); metals, 72.8 percent ($1.8 billion); and plastics, 36 percent ($2.7 billion).

According to the GSO, the trade deficit was restrained to $8.6 billion during the first nine months of the year, which accounted for only 16.7 percent of the total export and import turnover.

The GSO's Commerce Department director Le Minh Thuy said the current trade balance lacked equilibrium as export turnover rose due to inflated prices of several export commodities, including crude oil, cassava, coal, pepper and cashew nuts.

Gold and gold products accounted for a major proportion of export revenues. If the GSO did not include gold exports, the trade deficit during the first nine months of the year would have been $11.4 billion instead of $8.6 billion.

Thuy said tough policies concerning import controls needed to be implemented to ensure the efficient development of the export sector.

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Saturday, December 11, 2010

Agro-forestry-seafood exports continue soaring

Agro-forestry-seafood exports continue soaring

The agro-forestry-seafood sector earned 1.75 billion USD from exports in
September, raising its total export turnover in the first nine months
of the year to 13.93 billion USD, a year-on-year increase of 22.3
percent.


Of the total, agricultural products
brought home 7.32 billion USD, up 21 percent and seafood, 3.47 billion
USD, up 14.2 percent.


Rice topped the
list of agro-forestry products in terms of both export volume and value
with 5.55 million tonnes worth 2.56 billion USD in the nine-month
period, representing respective increases of nearly 12 percent and over
14 percent. The prices of Vietnamese rice have come close to those of
Thailand , the world’s largest rice exporter.


Several other agricultural products also recorded increases in both
export volume and value, including coffee with 925,000 tonnes, earning
over 1.3 billion USD, up 4.2 percent in volume and nearly 1 percent in
value. Germany was Vietnam ’s largest coffee consumer with 13.5
percent of the country’s total export volume, followed by the US
with 12.7 percent.


Rubber exports rose only 10.9
percent in volume but saw a double growth in value compared to the same
period last year thanks to an 86-percent increase in price. In the first
nine months, Vietnam shipped 531,000 tonnes of rubber, earning 1.45
billion USD. China was Vietnam ’s biggest rubber importer that
accounted for over 57 percent of the country’s total export value.


The country’s tea export turnover reached 146 million USD, soaring
16.7 percent year-on-year while the export volume increased only 4
percent with 100,000 tonnes. Pakistan was the largest importer of
Vietnam ’s tea products, followed by Taiwan and Russia .


Vietnam remained the number one cashew nut exporter in the
world. In the reviewed period, the country exported 143,000 tonnes worth
780 million USD, up 10 percent in volume and 30 percent in value.
Vietnamese cashew nuts were shipped to 50 countries and territories
worldwide with the US being the largest consumer, accounting for
nearly 34 percent of the country’s total export value.


Pepper saw a decrease of 5.6 percent on volume but its export value
was up over 30 percent over last year’s correspondent period with
102,000 tonnes and 345 million USD respectively.


Forest products and timber recorded a high export turnover of 2.6
billion USD. However, the nine-month import turnover of timber material
still reached 827 million USD despite a year-on-year drop of up to 30.9
percent.


Seafood continued to affirm itself as the
country’s strategic export item with 3.5 billion USD in nine-month
export turnover. Japan and the US were the two largest consumers
of Vietnamese seafood with respective proportions of 18.4 percent and 18
percent.


In the nine-month period, Vietnam
imported 9.5 billion USD worth of materials for agro-forestry-seafood
production, up over 27 percent year-on-year./.

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Friday, December 10, 2010

Export turnover increases 23.2%

Packing rice for export at Tien Giang Food Company. The country's export turnover reached an estimated US$51.5 billion during the first nine months of the year, an increase of 23.2 per cent compared with the same period last year, reported the General Statistics Office. — VNA/VNS Photo Dinh Hue

Packing rice for export at Tien Giang Food Company. The country's export turnover reached an estimated US$51.5 billion during the first nine months of the year, an increase of 23.2 per cent compared with the same period last year, reported the General Statistics Office. — VNA/VNS Photo Dinh Hue

HA NOI—The country's export turnover reached an estimated US$51.5 billion during the first nine months of the year, an increase of 23.2 per cent compared to the same period last year, reported the General Statistics Office.

The domestic sector earned $24.1 billion, a 19.7 per cent increase, while the foreign-investment sector fetched $27.35 billion (including crude oil), a 26.5 per cent increase.

Export commodities earned more than $1 billion in revenue.

Coffee, cassava and cassava products, and crude oil declined in export turnover in comparison to the same period last year.

The country imported $60.1 billion in commodities during the first nine months, an increase of 22.7 per cent compared to the same period last year.

Imported commodities that earned the highest import turnovers included textiles, up 26 per cent ($3.84 billion); electronics, computer and computer accessories, 30.6 per cent ($3.509 billion); metals, 72.8 per cent ($1.832 billion); and plastics, 36 per cent ($2.726 billion).

According to the GSO, the trade deficit was restrained to $8.6 billion during the first nine months of the year, which accounted for only 16.7 per cent of the total export and import turnover.

The GSO's Commerce Department director Le Minh Thuy said the current trade balance lacked equilibrium as export turnover rose due to inflated prices of several export commodities, including crude oil, cassava, coal, pepper and cashew nuts.

Gold and gold products accounted for a major proportion of export revenues. If the GSO did not include gold exports, the trade deficit during the first nine months of the year would have been $11.4 billion instead of $8.6 billion.

Thuy said tough policies concerning import controls needed to be implemented to ensure the efficient development of the export sector. —VNS

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Monday, September 13, 2010

Vietnams’ trade deficit passes $8 bln

export

Vietnam trade deficit hit a record US$8.15 billion in the first eight months of the year, an increase of $700 million compared with last month's figure, according to the General Statistics Office (GSO).

Excessive imports helped push the total to 18.3 percent of the year's total export turnover.

The country imported products worth $52.68 billion in the first eight months, a rise of 24.4 percent over last year. The domestic sector accounted for $30.3 billion of the imports, an increase of 13.2 percent, while the foreign direct investment sector imported $22.37 billion worth of goods, a rise of 43.6 percent.

Import turnover in August was $6.9 billion.

Imported commodities with the highest import turnover included materials for industrial export production such as mechanical machines (14.9 percent); electronics, computers and accessories (31.5 percent); clothes (26.6 percent); textile and garment materials (38.1 percent), and metals (79.9 percent).

Imported automobiles and fertilizer decreased by 30.5 percent and 10.8 percent, respectively.

The general export turnover was estimated at $44.52 billion during the period, an increase of 19.7 percent compared to the same period last year. The domestic sector contributed 46 percent, or $20.56 billion, of the turnover, while the remaining $23.96 billion was imported by foreign invested companies.

GSO's Acting Director of Trade Department Le Minh Thuy said that August exports were slower, decreasing 0.5 percent in comparison with last month. However, the export of gold contributed significantly to the export turnover in helping to keep the total turnover steady.

"If we did not count gold exports, the trade deficit in the first eight months would be $9.8 billion instead of $8.15 billion, and would make up 22 percent of the total export turnover," she said.

Commodities that experienced a significant increase in export turnover included steel, 220 percent ($466 million); rubber, 89.3 percent ($543 million); chemical products, 83.9 percent ($185 million); transportation and accessories, 83.0 percent ($458 million); and electric wire and cable, 72.2 percent ($347 million).

Other industries that experienced export turnover included textiles and garments (17.8 percent), wood and wood products (36.1 percent), rubber (89.3 percent), footwear (18.8 percent), electronics and computers (30.2 percent); and mechanical machines and accessories (61.2 percent).

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Saturday, September 11, 2010

Trade deficit passes 8 billion USD

The trade deficit hit a record 8.15 billion USD in the first eight
months of the year, an increase of 700 million USD compared with last
month's figure, the General Statistics Office (GSO) said on August 24.


Excessive imports helped push the total to 18.3 percent of the year's total export turnover.


The country imported products worth 52.68 billion USD in the first
eight months, a rise of 24.4 percent over last year. The domestic sector
accounted for 30.3 billion USD of the imports, an increase of 13.2
percent, while the foreign direct investment sector imported 22.37
billion USD worth of goods, a rise of 43.6 percent.


Import turnover in August was 6.9 billion USD.


Imported commodities with the highest import turnover included
materials for industrial export production such as mechanical machines
(14.9 percent); electronics, computers and accessories (31.5 percent);
clothes (26.6 percent); textile and garment materials (38.1 percent),
and metals (79.9 percent).


Imported automobiles and fertiliser decreased by 30.5 percent and 10.8 percent, respectively.


The general export turnover was estimated at 44.52 billion USD during
the period, an increase of 19.7 percent compared to the same period last
year. The domestic sector contributed 46 percent, or 20.56 billion USD,
of the turnover, while the remaining 23.96 billion USD was imported by
foreign invested companies.


GSO's Acting Director of
Trade Department Le Minh Thuy said that August exports were slower,
decreasing 0.5 percent in comparison with last month. However, the
export of gold contributed significantly to the export turnover in
helping to keep the total turnover steady.


"If we
did not count gold exports, the trade deficit in the first eight months
would be 9.8 billion USD instead of 8.15 billion USD, and would make up
22 percent of the total export turnover," she said.


Commodities that experienced a significant increase in export turnover
included steel, 220 percent (466 million USD); rubber, 89.3 percent (543
million USD); chemical products, 83.9 percent (185 million USD);
transportation and accessories, 83.0 percent (458 million USD); and
electric wire and cable, 72.2 percent (347 million USD).


Other industries that experienced export turnover included textiles
and garments (17.8 percent), wood and wood products (36.1 percent),
rubber (89.3 percent), footwear (18.8 percent), electronics and
computers (30.2 percent); and mechanical machines and accessories (61.2
percent)./.

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Friday, September 10, 2010

Trade deficit passes $8 billion

Catfish is processed for export by workers of the Binh An Seafood Co in the city of Can Tho. Trade deficit hit a record of US$8.15 billion in first eight months this year. — VNA/VNS Photo Duy Khuong

HA NOI — The trade deficit hit a record US$8.15 billion in the first eight months of the year, an increase of $700 million compared with last month's figure, the General Statistics Office (GSO) said yesterday.

Excessive imports helped push the total to 18.3 per cent of the year's total export turnover.

The country imported products worth $52.68 billion in the first eight months, a rise of 24.4 per cent over last year. The domestic sector accounted for $30.3 billion of the imports, an increase of 13.2 per cent, while the foreign direct investment sector imported $22.37 billion worth of goods, a rise of 43.6 per cent.

Import turnover in August was $6.9 billion.

Imported commodities with the highest import turnover included materials for industrial export production such as mechanical machines (14.9 per cent); electronics, computers and accessories (31.5 per cent); clothes (26.6 per cent); textile and garment materials (38.1 per cent), and metals (79.9 per cent).

Imported automobiles and fertiliser decreased by 30.5 per cent and 10.8 per cent, respectively.

The general export turnover was estimated at $ 44.52 billion during the period, an increase of 19.7 per cent compared to the same period last year. The domestic sector contributed 46 per cent, or $20.56 billion, of the turnover, while the remaining $23.96 billion was imported by foreign invested companies.

GSO's Acting Director of Trade Department Le Minh Thuy said that August exports were slower, decreasing 0.5 per cent in comparison with last month. However, the export of gold contributed significantly to the export turnover in helping to keep the total turnover steady.

"If we did not count gold exports, the trade deficit in the first eight months would be $9.8 billion instead of $8.15 billion, and would make up 22 per cent of the total export turnover," she said.

Commodities that experienced a significant increase in export turnover included steel, 220 per cent ($466 million); rubber, 89.3 per cent ($543 million); chemical products, 83.9 per cent ($185 million); transportation and accessories, 83.0 per cent ($458 million); and electric wire and cable, 72.2 per cent ($347 million).

Other industries that experienced export turnover included textiles and garments (17.8 per cent), wood and wood products (36.1 per cent), rubber (89.3 per cent), footwear (18.8 per cent), electronics and computers (30.2 per cent); and mechanical machines and accessories (61.2 per cent). — VNS

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Thursday, August 19, 2010

Plastics industry eyes $1b club

HA NOI — The plastics industry is capable of achieving an export turnover of US$1 billion this year, affirmed the Viet Nam Plastics Association (VPA).

"This goal is possible because in the first seven months of this year, the industry earned more than US$550 million from exporting plastic products," said Huynh Thi My, head of the VPA's Administrative Affairs Division.

My affirmed that if the target is met, total plastic export turnover would have increased by between 15 per cent and 20 per cent while export volume would have grown by about 20 per cent.

The Industry and Trade Information Centre (VITIC) under the Ministry of Industry and Trade announced that in July alone, the plastics industry earned a turnover of $86.4 million, a year-on-year increase of 24.2 per cent.

From the beginning of this year, VITIC said, monthly plastics export turnover had averaged $80 million per month.

Vietnamese plastic products are exported to over 70 countries and territories. Seven of which have recorded import turnovers of more than $1 million, VITIC said.

Japan is now the largest importer of Vietnamese plastic products, accounting for 26.5 per cent of Viet Nam's total plastic export volume. The country is followed by the US with 13.2 per cent.

"In the past, the US was the biggest market for us. However, after the US Government imposed anti-dumping taxes on Vietnamese plastic packing products in 2009, exports rapidly declined," said My.

Other major markets include Germany and Cambodia which account for 8.1 per cent and 6.8 per cent of the country's total exports, respectively.

According to the VPA, about 50 per cent of Vietnamese export plastic products are packing products, while 15 per cent are household appliances and 35 per cent includes products such as technological products or office supplies.

Viet Nam has more than 2,000 plastic products manufacturers, of which 90 per cent are small- and medium-sized companies. About 80 per cent of them are based in HCM City and its neighbouring provinces such as Dong Nai, Long An and Binh Duong.

Only 15 per cent of manufacturers are based in the north and 5 per cent are in the central region.

The industry's revenue in 2009 totalled $4.5 billion, a $500 million decrease compared with 2008 due to lower prices. — VNS

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