[nasional_list] [ppiindia] Vietnam's export value grows strongly in January

  • From: "Ambon" <sea@xxxxxxxxxx>
  • To: <"Undisclosed-Recipient:;"@freelists.org>
  • Date: Wed, 16 Feb 2005 00:20:41 +0100

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http://www.atimes.com/atimes/Southeast_Asia/GB16Ae03.html
Feb 16, 2005


 Vietnam's export value grows strongly in January

HANOI - Vietnam's export value in January increased 19.6% year-on-year to 
nearly US$1.7 billion, the highest level in recent years.

Registering a high growth in export value was crude oil, with $412 million; 
garments, $267 million; footwear, $224 million; seafood, $126 million; and 
wood furniture, $71 million.

Rice exports increased in both volume and value, reaching 700,000 tonnes, 
including 320,000 tonnes to the Philippines.

Experts have attributed the export increase to businesses' efforts to ensure 
sufficient supply of material inputs since late last year and their active 
production for export.

Many seminars have been organized in the textile and garment industry to 
discuss ways to overcome difficulties and challenges in 2005, including 
fierce competition with potential suppliers such as China. Seminars to 
introduce new technologies and material suppliers have brought about initial 
results. Many enterprises have invested in producing products of high 
economic value such as suits and jeans. Viet Tien, Nha Be and Phuong Dong 
garment companies and Phong Phu and Hanoi textile mills have gained 
production contracts to mid-2005.

The footwear industry has also gained production orders from Europe and the 
United States. Its enterprises, especially private enterprises, have 
invested in modern equipment and technology to meet growing demand.

The Ministry of Trade predicts 21% growth or $6.4 billion for the European 
market alone. Exports to this market are mainly footwear, garments, 
textiles, aquatic products, and coffee. The ministry said it is still too 
early to make any optimistic forecasts on the country's exports for 2005, 
but signs in the first month of the year showed that it will not be so 
difficult to achieve the yearly export targets provided there is stable 
legal support from state management agencies.

The garment and textiles sector is forecast to obtain high revenues in the 
coming months due to a surge in the importation of raw materials such as 
cotton and cloth in January, which increased by between 30-100%.

In addition, a number of agricultural products such as timber, rubber, 
coffee and rice have won major export contracts. Some products such as 
rubber have gained contracts for exportation for the whole year.

Most farm produce will be sold at high prices in the world market for months 
to come due to poor harvests.

(Asia Pulse/VNA) 



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