Socialist Republic of Vietnam

HA NOI — Viet Nam has achieved US$2.5 billion in export turnover during the month of March, reported the General Statistics Office (GSO).

This month’s export turnover has brought the total for the first three months to $6.7 billion or an increase of 16.2 per cent against the same period last year.

According to economists at the GSO and the Ministry of Trade, the high export turnover in March was largely due to increasing prices on the global market.

The foreign invested sector led the growth, expanding its exports by 21.5 per cent to $2.2 billion while the domestic sector rose 6.6 per cent to $3 billion.

Crude oil went up by 30 per cent, earning export revenues of $1.5 billion compared to the same period last year.

Exports of electronics and computer goods soared 45.3 per cent to $311 million, seafood products increased 8 per cent to $480 million, garments and textiles increased 1.1 billion per cent to $950 million and rice exports rose by 5.2 per cent to $266 million.

Viet Nam also saw imports of $7.8 billion during the first three months, marking an increase of around 18.5 per cent against the same period last year.

As a result, the nation’s trade deficit hit $1.1 billion in the first three months.

In the first quarter of this month, imports of petrol products increased by 8.8 per cent to $108 million while imports of steel and iron rose 21.8 per cent to $626 million.

Machines, equipment and accessories imports rose by $1.2 billion, or an increase of about 27.5 per cent. Imports of complete cars reached 4,000 units worth $75 million.

Ha Noi and HCM City

Industrial production value in the capital city so far this year was nearly VND7.8 trillion ($500 million), a 16.8 per cent year-on-year increase.

In the central sector, the production values of 21 out of 22 industries increased. High growth rates have been recorded in the production of vehicles with engines, cigarettes, furniture, wood and wood product processing.

The production value of 18 out of 19 local industries has risen, including coal exploitation, precision tools and vehicles with engines.

Inside of the first quarter of this year, 19 new foreign-invested businesses have started operating in the city, bringing the total number of operating foreign-invested businesses to 190.

Meanwhile, the capital city has also grossed an export value of $587.3 million, a 17.2 per cent increase year-on-year. Of that figure, $237.3 million is attributed to local businesses, marking a year-on-year increase of 28.7 per cent.

High increases have been seen in exports of jet printers, electronics, footwear and leather products.

The city’s import value stands at $2.08 billion, a 25.3 per cent increase over the same period last year.

The high increases in import-export value have been attributed to the operation of new foreign-invested projects, stable exports of farm products on the global market and higher prices for imported raw materials and products.

HCM City’s import and export values were up during the first quarter. The City has grossed an export value of $2.5 billion so far this year, a 16.5 per cent increase year-on-year.

Of that figure, the State-owned sector has contributed $1.8 billion, up 16.5 per cent; the private sector, $98.7 million, up 13.4 per cent; and the foreign-invested sector, more than $541 million, up 17.2 per cent.

The city has exported 269,900 tonnes of rice worth $72.7 million, or a year-on-year increase of 125.6 per cent in volume and 26.7 per cent in value. It has also earned $51.1 million from seafood exports, up 15.6 per cent, and $196.2 million from garment and textile exports, up 2.5 per cent.

However, the coffee export business has reported decreases in value, down 53.2 per cent, and footwear, down 5.7 per cent.

The city has exported 4.56 million tonnes of crude oil, down 9.6 per cent in volume but up 30.3 per cent in value.

Meanwhile, the city’s import value has reached $1.3 billion, up 6.1 per cent year-on-year.

Its major imported goods included milk and dairy products ($24.5 million, up 94.9 per cent); fuel ($220.9 million, up 32 per cent), garment and textile materials ($52.3 million, up 2.7 per cent); and steel ($35.6 million, up 14.7 per cent).

Viet Nam News, March 28, 2005