Major exports surge in first half

(VEN) - The value of Vietnam’s exports grew significantly in the first half of 2018 despite adverse conditions, contributing significantly to the country’s economic growth.
major exports surge in first half
Export of seafood with known origin needs to be promoted

Trade barriers

The Ministry of Agriculture and Rural Development said produce, forest product and seafood exports hit an estimated US$3.45 billion in June, taking the total to US$19.4 billion in the first half of 2018, up 12 percent from the same period of last year. This, despite new trade barriers by importer countries.

China has tightened control over agro-forestry-fishery imports. In addition, the European Union gave Vietnam a yellow card warning last October over unreported and unregulated fishing.

Rice exports increased sharply to reach an estimated 604,000 tonnes worth US$317 million in June 2018 and 3.56 million tonnes worth US$1.81 billion in the first half of this year, up 25 percent in volume and 42 percent in value from the same period of 2017. In June, the price of rice exports of major countries decreased. But, the price of Vietnamese white rice with a five-percent rate of broken grains reached US$450/tonne, higher than that of product of the same kind from India and Thailand. This is particularly meaningful in the context of China, the largest importer of Vietnamese rice, which is constantly decreasing the number of Vietnamese enterprises licensed to sell rice and has limited them to 20.

The rice export structure has changed with increases in fragrant and high-quality rice and decreases in middle-grade rice such as rice with a five-percent rate of broken grains. Jasmine fragrant rice exports reached 129.2 million tonnes in May 2018, accounting for 33 percent of the country’s total, and up 53.8 and 103 percent from April and January 2018, respectively.

Seafood exports also experienced a breakthrough, yielding an estimated US$732 million in June 2018 and US$3.94 billion in the first half of this year, 10.5 percent more than the same period of 2017.

Although there were signs of a slowdown after the export peak reached in March by Samsung, phone and phone component exports were still the biggest exports, yielding an estimated US$3.2 billion in June and US$22.5 billion in the first half of this year, an increase of 15.4 percent over the same period last year. In recent months, Vietnam has exported telephones and phone components to 30 countries and territories worldwide. The number of countries importing more than US$1 billion worth of phone and phone components from Vietnam has increased from three - the US, the Republic of Korea (RoK) and the United Arab Emirates (UAE) - in the first five months of 2017 to five - the US, the RoK, UAE, China and Austria. The five importers account for 55.2 percent of Vietnam’s phone and phone component export value.

Wood and wood product exports reached an estimated US$750 million in June and US$4.13 billion in the first half of this year, up three and 12.4 percent from May 2018 and the first half of 2017, respectively.

Annual export target feasible

In all, Vietnam exported goods worth US$113.93 billion in the first half of this year, up 16 percent from the same period last year. This growth, in addition to market and price advantages resulting from positive global economic growth in 2018, is expected to enable Vietnam to reach its 10-percent-plus export growth target for 2018.

The improved domestic business investment environment, startup businesses encouraged with new policies, and increased registered foreign direct investment (FDI) capital have all boosted production and increased sources of commodities for export.

Under a directive issued in April by Minister of Industry and Trade Tran Tuan Anh, a wide range of administrative procedures and investment conditions are being simplified in 10 areas, including energy, electricity, competition management, measurement and standards control, trade promotion, food safety, and imports and exports, among other fields. Vietnam’s key exports including textiles and garments, leather and footwear, machinery and equipment, wooden furniture, agricultural products and seafood continue to benefit greatly from free trade agreements (FTAs) that Vietnam has signed. Textile-garment and leather-footwear enterprises have received orders for export production for the first three quarters or the whole year of 2018.

In addition to continuing administrative reform and business environment improvement, Vietnam aspires to further improve the quality and competitiveness of its major exports including rice, seafood, textiles and garments. The Ministry of Agriculture and Rural Development said that in 2018, Vietnam has set a target of exporting about 6.5 million tonnes of rice, mostly high-quality rice, while intensively investing in seafood processing, branding and origin legality.

Lan Phuong

See also

Australian state of Queensland promotes trade with Vietnamese enterprises

Australian state of Queensland promotes trade with Vietnamese enterprises

In mid-May 2023, Trade and Investment Queensland (TIQ) organized an inbound Mission to the North of Queensland, Australia for businesses around the world to visit horticultural farms, manufacturing facilities for agricultural products, and seafood exporters.
Ample room remains for Vietnamese exports to Africa

Ample room remains for Vietnamese exports to Africa

There remains an ample room for Vietnamese exports to Africa, as the country accounts for only 0.6 per cent of the continent's total import of US$600 billion per year, according to the Ministry of Industry and Trade, given opportunities brought about by the African Continental Free Trade Area (AfCFTA) agreement.
Exports to China recover

Exports to China recover

(VEN) - China’s growing demand for goods and Vietnam’s efficient export promotion have helped increase Vietnam’s export value to China since the second quarter of this year.
Việt Nam is RoK

Việt Nam is RoK's 4th largest rubber supplier

However, the Vietnamese rubber market share is shrinking here, while the market shares of Indonesia, China, the Philippines, Cambodia, and Singapore tend to increase.
New FTAs: Market expansion expected

New FTAs: Market expansion expected

(VEN) - Vietnam’s export growth in recent years was attributed not only to business efforts but also to free trade agreements (FTAs). The Ministry of Industry and Trade (MoIT), therefore, is joining other ministries and sectors to negotiate and sign new FTAs.
Smart logistics key for competitiveness improvement experts

Smart logistics key for competitiveness improvement experts

To meet the demand of domestic trading and import-export activities, the logistics sector is working towards professional and competitive services meeting international standards, in which smart logistics development is considered the key solution.

See more news

Bac Giang boosts lychee exports to US

Bac Giang boosts lychee exports to US

(VEN) - During this lychee season, the northern province of Bac Giang expects to export 1,500 tonnes of the fruit to the US and the locality is resolving difficulties to achieve this target.
Businesses asked to keep close watch on US investigation into boltless steel shelving imports

Businesses asked to keep close watch on US investigation into boltless steel shelving imports

The US Department of Commerce (DOC) has commenced anti-dumping investigation into bottless steel shelving units from Việt Nam, Trade Remedies Authority of Việt Nam said, recommending enterprises producing and exporting related products keep a close watch on the next developments of the case. ​
Timber exporters face a sharp decline in orders

Timber exporters face a sharp decline in orders

Data from the General Department of Customs showed that the export turnover of wood and wooden products reached US$3.9 billion in the first four months, down 30.6 per cent year-on-year. The export of wooden goods saw a yearly decline of 38 per cent to $2.6 billion.
Enhancing Exports to China

Enhancing Exports to China

(VEN) - Le Hoang Tai, Deputy Director of the Ministry of Industry and Trade’s Vietnam Trade Promotion Agency (VIETRADE), said at a recent meeting with the media that despite Vietnam's geographic advantage, exports to China require greater efforts on the part of businesses in order to adapt to Chinese standards and achieve efficient outreach.
VN to play a greater role in global commodity exchanges

VN to play a greater role in global commodity exchanges

The Mercantile Exchange of Vietnam (MXV) is to play an increasingly important role in global trade with changes in the Southeast Asia economy's supply and demand can impact the listed prices of commodities on global exchanges.
Exploring new markets expected to fuel foreign trade

Exploring new markets expected to fuel foreign trade

Việt Nam witnessed declines in both exports and imports in the first four months of 2023, and exploring new markets is now considered one of the solutions to foreign trade bottlenecks.
FDI sector posts trade surplus of over US$14 billion in four months

FDI sector posts trade surplus of over US$14 billion in four months

Despite an overall export decline due to the shortage of orders, foreign direct invested (FDI) businesses still posted more than US$14 billion in trade surplus in the first four months.
2 representatives from Vietnam excellently won the 2nd prize in ICAEW China and South-East Asia Business Challenge 2023

2 representatives from Vietnam excellently won the 2nd prize in ICAEW China and South-East Asia Business Challenge 2023

(VEN) - The Institute of Chartered Accountants of England and Wales (ICAEW) hosted its annual ICAEW China and South-East Asia Business Challenge 2023 for the first time in Vietnam.
Tea exports earn 50 mln USD in first four months of 2023

Tea exports earn 50 mln USD in first four months of 2023

According to the Ministry of Agriculture and Rural Development (MARD), tea exports in the first four months of this year reached 30,000 tonnes, worth 50 million USD, down 4.8% in volume and 5.8% in value compared to the same period last year.
Vietnamese rice welcomed in Australia, Vanuatu

Vietnamese rice welcomed in Australia, Vanuatu

(VEN) - Domestic companies have signed contracts for exporting 10 containers of ST25 rice to the Pacific Ocean Republic of Vanuatu.
View more
Latest Most Read
Australian state of Queensland promotes trade with Vietnamese enterprises

Australian state of Queensland promotes trade with Vietnamese enterprises

In mid-May 2023, Trade and Investment Queensland (TIQ) organized an inbound Mission to the North of Queensland, Australia for businesses around the world to visit horticultural farms, manufacturing facilities for agricultural products, and seafood exporters.
Amway Vietnam honored Top Industry 4.0 Vietnam - I4.0 Awards

Amway Vietnam honored Top Industry 4.0 Vietnam - I4.0 Awards

Amway Vietnam – a global brand in the field of health and beauty care was honored to receive the Top Industry 4.0 Vietnam - I4.0 Awards in the Science, Technology and Innovation Enterprise category.
Vietnamese firms participate in biggest food exhibition in RoK

Vietnamese firms participate in biggest food exhibition in RoK

More than 30 Vietnamese businesses are showcasing their products at a food exhibition in the Republic of Korea (RoK), which opened on May 30.
Favourable visa policy urged to draw foreign tourists to Việt Nam

Favourable visa policy urged to draw foreign tourists to Việt Nam

Last year, Việt Nam welcomed more than 3.66 million foreign visitors or 73 per cent of the target.
Ample room remains for Vietnamese exports to Africa

Ample room remains for Vietnamese exports to Africa

There remains an ample room for Vietnamese exports to Africa, as the country accounts for only 0.6 per cent of the continent's total import of US$600 billion per year, according to the Ministry of Industry and Trade, given opportunities brought about by the African Continental Free Trade Area (AfCFTA) agreement.
favourable visa policy urged to draw foreign tourists to viet nam

Favourable visa policy urged to draw foreign tourists to Việt Nam

Last year, Việt Nam welcomed more than 3.66 million foreign visitors or 73 per cent of the target.
viet nam received 46 million foreign visitors in first five months over half the years target

Việt Nam received 4.6 million foreign visitors in first five months, over half the year’s target

Việt Nam sets sight on eight million foreign tourists this year, but the target was made before China officially announced its reopening in early February and reallowed sending group tours to Việt Nam in mid-March.
international festival provides platform to young musicians

International festival provides platform to young musicians

Monsoon' festival, one of the most anticipated music events in Việt Nam, will be held in Hà Nội from October 14 to 22. The festival founder and director, Quốc Trung, discusses the festival's return after a three-year hiatus.
bat trang ancient pottery exhibited at viet nam national museum of history

Bát Tràng ancient pottery exhibited at Việt Nam National Museum of History

A unique collection of Bát Tràng pottery artefacts dating from the 14th to the 20th century are being introduced to the public at the Việt Nam National Museum of History.
domestic audiences experience european cinema at film festival

Domestic audiences experience European cinema at film festival

They include multiple award-winning entries set across a range of spatial-temporal contexts.
Deputy PM urges acceleration of electricity licensing for finished wind, solar power projects

Deputy PM urges acceleration of electricity licensing for finished wind, solar power projects

Deputy Prime Minister Tran Hong Ha has requested the Ministry of Industry and Trade to accelerate the process of issuing electricity licenses for wind and solar power projects that have been completed but have not yet been put into operation.
Specific mechanisms, policies needed to drive HCM City’s growth

Specific mechanisms, policies needed to drive HCM City’s growth

Ho Chi Minh City needs to be supported by specific mechanisms and policies that are strong enough to remove bottlenecks faced by the city and enable it to create breakthrough developments, experts said.
PM approves National Power Development Plan VIII

PM approves National Power Development Plan VIII

Prime Minister Phạm Minh Chính has approved the National Power Development Plan VIII, which guides the development of power plants and power grids between 2021 and 2030.
Chip-based passports can be provided online, sent via post

Chip-based passports can be provided online, sent via post

The Government’s National Public Service Portal has by now integrated services to facilitate people in issuing new and exchanging chip-based passports, and receiving them via post.
Việt Nam has major opportunities to engage in global Halal industry Deputy minister

Việt Nam has major opportunities to engage in global Halal industry Deputy minister

Deputy Minister of Foreign Affairs Phạm Quang Hiệu speaks to the media about strengthening international cooperation to develop the Halal industry in Việt Nam.
Cut on automobile registration fees to facilitate auto industry

Cut on automobile registration fees to facilitate auto industry

The Ministry of Industry and Trade supporting the reduction of automobile registration fees is considered a positive effect to the auto industry in the context of the automobile market facing many difficulties.
Suitable solutions needed for each sector

Suitable solutions needed for each sector

(VEN) - Most industrial production sectors are facing difficulties; therefore, experts say, suitable solutions for different sectors are needed in order to solve the problems.
Fertiliser businesses see profit drop on ailing selling prices and rising costs

Fertiliser businesses see profit drop on ailing selling prices and rising costs

Falling selling prices and rising costs have caused the profits of most fertiliser businesses to plunge, after recording high profits in the previous few years.
FDI enterprises urge investment environment improvement

FDI enterprises urge investment environment improvement

(VEN) - At an April-22 in-person meeting between Prime Minister Pham Minh Chinh and foreign investors, business and association representatives suggested that Vietnam further improve its investment environment.
Vietnam

Vietnam's five-month FDI rises sharply nationwide

The total inflows of foreign investment in Vietnam this year to May 20, including new and added investment and contributions for share purchases by foreign investors, reached nearly 10.86 billion USD, down 7.3% year-on-year, but up 10.6 percentage points as compared with the figure in the first four months of this year, the Foreign Investment Agency (FIA) under the Ministry of Planning and Investment reported.
Binh Phuoc’s potential introduced to Australian partners

Binh Phuoc’s potential introduced to Australian partners

A seminar was held in Sydney on May 24 to introduce and popularise new investment opportunities in Binh Phuoc, a southern Vietnamese province of great potential, on the occasion of the 50th anniversary of Vietnam-Australia diplomatic ties.
Da Nang calls for investment in 10 logistics centre projects

Da Nang calls for investment in 10 logistics centre projects

The People's Committee of central Da Nang City has announced a list of logistics projects calling for investment in the period until 2030.
Dozens of commercial banks cut savings interest rates

Dozens of commercial banks cut savings interest rates

Dozens of commercial banks have simultaneously decided to reduce deposit interest rates from May 25, after the State Bank's decision to cut policy interest rates.
Central bank continues to reduce policy interest rates

Central bank continues to reduce policy interest rates

The State Bank of Vietnam (SBV) has announced two decisions to further reduce policy interest rates, which will become effective from May 25, 2023.
Nearly 2.3 billion USD in state capital saved in 2022: Gov

Nearly 2.3 billion USD in state capital saved in 2022: Gov't report

Almost 53.9 trillion VND (2.29 billion USD) in state capital was saved in 2022 as reported by ministries, sectors, and localities, according to the Government.
Central bank eases credit crunch, boosts growth

Central bank eases credit crunch, boosts growth

(VEN) - The banking sector has adopted a series of mechanisms and policies in recent months to help businesses and customers restructure debt repayment and shore up the local bond market.
PM urges stronger wildfire prevention measures amid strong heatwaves

PM urges stronger wildfire prevention measures amid strong heatwaves

Prime Minister Phạm Minh Chính has urged stepping up wildfire prevention measures as heatwaves are scorching many localities nationwide, increasing the risk of wildfires.
Vietnam targets development of green, plastic waste-free tourism

Vietnam targets development of green, plastic waste-free tourism

Vietnam is considered one of the largest contributors to marine plastic pollution globally, with the volume of plastic waste discharged into the sea ranging from 0.28 to 0.73 million tonnes a year, of which a big part comes from tourism activities.
Đồng Nai afforestation programme kicks off

Đồng Nai afforestation programme kicks off

NGO Gaia Nature Conservation Center on Monday kicked off its annual afforestation programme at the Đồng Nai Culture and Nature Reserve to mark International Day for Biological Diversity.
New task force promotes innovation and financing for plastic waste reduction

New task force promotes innovation and financing for plastic waste reduction

The Việt Nam National Plastic Action Partnership (NPAP) has launched a new task force to promote innovation and catalyse investment in effective solutions for reducing plastic waste and pollution in Việt Nam.
Over 77,000 computers in Vietnam suffer data encryption in 7 months Bkav

Over 77,000 computers in Vietnam suffer data encryption in 7 months Bkav

More than 77,000 computers in Vietnam have suffered data encryption since December 2022, according to Bkav – a leading Vietnamese technology corporation that specialises in cyber security and software.
Hanoi hosts Vietnam - Asia DX Summit 2023

Hanoi hosts Vietnam - Asia DX Summit 2023

Deputy Prime Minister Tran Hong Ha chaired the opening session of the Vietnam - Asia DX Summit 2023 themed “Driving economic growth enabled by digital data mining and smart connectivity” in Hanoi on May 24.
Hanoi Transerco applies technology to improve public bus services

Hanoi Transerco applies technology to improve public bus services

The application of technologies in managing and operation activities has been among prioritised solutions that the Hanoi Transportation Corporation (Transerco) has rolled out to improve the quality of its public bus services over the past years.
Hanoi aims to be national hub of technology transfer, development

Hanoi aims to be national hub of technology transfer, development

Hanoi stands ready to coordinate with the Ministry of Science and Technology to pilot policies on innovation and science and technology development, thus turning the capital city into a hub of science, technology and innovation in the country, Vice Secretary of the municipal Party Committee Nguyen Van Phong has stated.
New Zealand provides 40 full micro-credentials scholarships for Vietnamese learners

New Zealand provides 40 full micro-credentials scholarships for Vietnamese learners

Following the success of the Micro-credentials Scholarship program in 2022, Education New Zealand (ENZ) announced 40 full scholarships exclusively for Vietnamese learners in 2023, with a total value of more than half a billion dong.
Mong Cai city imports electricity from China’s Dongxing

Mong Cai city imports electricity from China’s Dongxing

The Mong Cai (Vietnam) - Dongxing (China) 110kV transmission line was completed and put into operation at 6 am on May 22, adding power supply to Mong Cai city in the northeastern province of Quang Ninh, according to the Mong Cai City Electricity.
Seminar discusses orientations for rapid and sustainable national development

Seminar discusses orientations for rapid and sustainable national development

Participants at a seminar in Hanoi on May 16 discussed three pillars of the nation’s rapid and sustainable development.
M&A to pick up in property market

M&A to pick up in property market

HÀ NỘI — Domestic property developers are looking to sell assets and shares to deal with debts, restructure, maintain cash flow and keep operations going, according to industry experts.
•	Tripadvisor highlights the sole hotel in Da Nang in the prestigious Travelers

• Tripadvisor highlights the sole hotel in Da Nang in the prestigious Travelers' Choice Best of the Best award

Millions of travelers from around the world have voted Premier Village Danang Resort - a masterpiece by Sun Group on the shores of the East Sea - as one of the top 10 family-friendly hotels in Asia 2023 on Tripadvisor.
Pfizer Vietnam, VNVC sign MoU to protect public health

Pfizer Vietnam, VNVC sign MoU to protect public health

Pfizer (Vietnam) Limited Company and Vietnam Vaccine Joint Stock Company (VNVC) on Wednesday (May 24) signed a memorandum of understanding (MoU) to partner on protecting public health by increasing the rate of proactive prevention of dangerous infections in the period of 2023-25.
Vietjet offers 50% discount on SkyBoss Business tickets

Vietjet offers 50% discount on SkyBoss Business tickets

These discounted tickets (excluding taxes and fees) are available at www.vietjetair.com and Vietjet Air mobile app from now until June 30, 2023.
Positioning Vietnam’s Green National Brand

Positioning Vietnam’s Green National Brand

(VEN) - The panel discussion of “Positioning Vietnam’s Green National Brand” held in the framework of the Vietnam National Brand Week and the Vietnam Branding Forum 2023 drew a lot of discussion among speakers.
International festival provides platform to young musicians

International festival provides platform to young musicians

Monsoon' festival, one of the most anticipated music events in Việt Nam, will be held in Hà Nội from October 14 to 22. The festival founder and director, Quốc Trung, discusses the festival's return after a three-year hiatus.
Bát Tràng ancient pottery exhibited at Việt Nam National Museum of History

Bát Tràng ancient pottery exhibited at Việt Nam National Museum of History

A unique collection of Bát Tràng pottery artefacts dating from the 14th to the 20th century are being introduced to the public at the Việt Nam National Museum of History.
Vietnam’s broken rice among top 100 most delicious rice dishes in the world

Vietnam’s broken rice among top 100 most delicious rice dishes in the world

(VEN) - International food magazine TasteAtlas recently ranked Com Tam, Vietnamese broken rice, in the 4th position in the top 100 most delicious rice dishes throughout the world.
Domestic audiences experience European cinema at film festival

Domestic audiences experience European cinema at film festival

They include multiple award-winning entries set across a range of spatial-temporal contexts.
Favourable visa policy urged to draw foreign tourists to Việt Nam

Favourable visa policy urged to draw foreign tourists to Việt Nam

Last year, Việt Nam welcomed more than 3.66 million foreign visitors or 73 per cent of the target.
Việt Nam received 4.6 million foreign visitors in first five months, over half the year’s target

Việt Nam received 4.6 million foreign visitors in first five months, over half the year’s target

Việt Nam sets sight on eight million foreign tourists this year, but the target was made before China officially announced its reopening in early February and reallowed sending group tours to Việt Nam in mid-March.
Da Nang - A destination with the most beautiful mountainous scenery in Asia

Da Nang - A destination with the most beautiful mountainous scenery in Asia

(VEN) - Recently, the Microsoft Travel news site has listed the central coastal city of Da Nang among the nine places with the best scenic mountain views in Asia.
Strategic investors’ engagement helps promote Việt Nam’s tourism growth

Strategic investors’ engagement helps promote Việt Nam’s tourism growth

The investment of domestic and foreign investors in tourism infrastructure, especially resort real estates, poor rural areas have been turned into enchanted destinations for tourists, making Việt Nam more attractive to investors.
Mobile Version