In the past 11 months, Vietnam’s export revenue from China reached $13.5 billion but the country spent up to $39.9 billion to import all kinds of goods from the Chinese market. Vietnam’s trade deficit from this market during this period rose over 22.1% compared to the same period last year, to $26.4 billion.
Customs officers check imported goods at the Mong Cai border gate in the northern province of Quang Ninh. The Ministry of Industry and Trade has announced a list of products that need to undergo checks before they are imported or exported. — VNA/VNS Photo Hoang Hung
Vietnam’s garment and textile export turnover is likely to reach 24.5 billion USD this year, a 19 percent rise against 2013 and the largest increase in the past three years. With this result, the sector will bring in a trade surplus of 12 billion USD this year, according to the Vietnam Textile and Apparel Association.
Domestic vehicle production output reached 5 million units this year, nearly doubling the market demand. However, companies still expanded their scale with expectation to turn Vietnam into one of the largest motorbike manufacturing countries in the world.
Viet Nam plans to cease the import of 38 kinds of fruits from Australia from 2015, the agriculture and rural development ministry's plant protection department announced yesterday. The department's decision follows the fruit fly epidemic that has affected fruit production in Australia.
Vietnam's coffee exports for the year ended 2014 surged 32% in value on-year to a new record high of US$3.6 billion, according to the Vietnam Coffee and Cocoa Association (Vicofa).
Viet Nam Association of Seafood Exporters and Producers (VASEP) general secretary Nguyen Hoai Nam said the world market had seen a recovery, and sales of seafood products has risen more than other types of food. Meanwhile, Viet Nam maintained stable and high quality seafood supplies, as the nation was estimated to gain a year-on-year increase of 18 per cent in seafood export values for this year, rising to $7.9 billion, reported vietnamplus.vn.
Viet Nam expects to gain US$2 billion from cashew exports this year, according to the Viet Nam Cashew Association (Vinacas). It added that by December 15, the value of cashew exports had increased by 22.6 per cent year-on-year to reach $1.93 billion, reported Vietnam Economic Times newspaper.
Only two out of 22 operational airports in Vietnam have reported profits, with losses attributed to the number of airports built several years ago when local authorities rushed to develop local economies. Within the last month, the strong recovery of the domestic transportation market occurred.
The future of the Capesize dry bulk market appears to be engulfed from mixed “feelings” among analysts and market participants, despite the fact of the relatively positive performance of late. The “pessimists”, as described by shipbroker Allied Shipbroking’s latest weekly report, are negative regarding the future prospects of the Capesize market, at least during the first half of 2015, while things are not looking much better for 2015 as a whole.