Want to be in the loop?
subscribe to
our notification
Business News
VIETNAM’S IMPORT AND EXPORT VALUE TOTALED US$53.5 BLN IN SEPT
Vietnam’s total merchandise import and export value was estimated at US$53.5 billion in September, down 2% from the previous month, according to the General Department of Vietnam Customs. Of the sum, the export value was US$27 billion, down 0.8% and the total import value was US$26.5 billion, down 3.1%.
This brought the nine-month value to US$483.2 billion, a sharp increase of 24.4% over the same period in 2020, of which total export value was US$240.52 billion, up 18.8% and the total import value was US$242.65 billion, up 30.5%.
Vietnam's merchandise trade balance in September 2021 was estimated to have a surplus of US$500 million, thus narrowing the deficit to US$2.13 billion in the first nine months of 2021.
Main exports included crude oil, clinker and cement, wood products, raw materials for textile-garment and leather-footwear industries.
In September, the country's export of textile-garment and leather-footwear raw materials was US$150 million, up 1.9% over the previous month, totaling US$1.458 billion in the first nine months of 2021, up 22.2% year on year.
Key imports in September 2021 consisted of petroleum, down approximately 30% in volume and value from the previous month, and steel, up more than 17%.
The import of computers, electronic products and components; machinery, equipment, tools and spare parts dipped slightly. Automobile imports dropped particularly sharply by more than 38%.
Source: VCCI
Related News
VIETNAM’S GDP TO GROW 5.5% THIS YEAR – WB
This forecast is based on the assumption of a moderate recovery in manufacturing exports in 2024, fueled by rebound growth of 8.5% year-on-year in the fourth quarter of 2023 and 17.2% year-on-year in the first quarter of 2024, reflecting strengthening global demand, said Dorsati Madani, senior country economist at the WB in Vietnam.
FARE REFUND FOR VISA REJECTION
Cathay Pacific will offer full refunds for cases of visa rejection to provide you with the confidence to explore the world with ease. If you are planning to fly to a destination that requires an entry visa, you can now book with greater peace of mind.
FOUR COMMODITIES POST Q1 EXPORT VALUE OF OVER 5 BILLION USD
The total export turnover of agricultural, forestry, and fisheries products in the first three months of 2024 is estimated to reach 13.53 billion USD, an increase of 21.8% compared to the same period of 2023.
MOIT PROPOSES SCHEME TO BOOST RENEWABLE ENERGY PROCUREMENT
The proposed Direct Power Purchase Agreement (DDPA) mechanism, outlined in the draft decree, targets organisations and individuals consuming electricity from the 22kV power grid or higher, with a monthly consumption averaging 500,000kWh. However, residential households are excluded from direct procurement.
REAL ESTATE BONDS PLACE PRESSURE ON ISSUING FIRMS
The ministry’s recent report underscores concerns within Vietnam’s corporate bond market for 2023 and 2024. It emphasizes the critical need to address hindrances to the real estate sector in line with the objectives provided in Government Resolution No. 33/NQ-CP, which aims to stabilize the industry.
DA NANG CUSTOMS FOCUSES ON DEVELOPING CUSTOMS-BUSINESS PARTNERSHIPS
Da Nang Customs Department issued an action plan for developing customs-business partnership in 2024. One of the new events this year is the workshop on “Settlement reports for enterprises engaged in outsourcing, export production and export processing” held in Da Nang Customs Department on April 16, 2024.