Tuesday, January 26, 2021 6:37:58 PM - Markets closed
VN-INDEX 1,136.12 -29.93/-2.57%
HNX-INDEX 227.82 -4.03/-1.74%
UPCOM-INDEX 76.42 -0.99/-1.28%
Việt Nam achieves trade surplus of almost $2b in two months
Vietnam News - 3/14/2020 8:47:50 AM
 (0 ratings. You must sign in to rate.)
Việt Nam gained a trade surplus of US$1.82 billion in the first two months this year despite strong impacts of the COVID-19 pandemic, said the General Department of Customs.
Specifically, the country’s export value in the first two months rose by 8.4 per cent year on year to US$39.08 billion, including $20.85 billion in February, according to the general department’s statistics released on Wednesday.
The increase was due to strong export value growth of many products. Of which, the export value surged by 12.2 per cent to $900 million for phones and components; by 27.4 per cent to $1.6 billion for the group of computers, electronic products and components; and 25.3 per cent to $630 million for the group of machinery, equipment, tools and spare parts.
During the first two months, the country imported goods with a total value of $37.26 billion, up 2.9 per cent over the same period in 2019, including $18.58 billion in February.
Of which, the imported complete-built-unit (CBU) cars reached 14,523 units with a total value of $333.3 million. It was down 43.3 per cent in volume and 41.8 per cent in value compared to the first two months of last year.
According to the Ministry of Industry and Trade, Việt Nam could achieve export growth in the future when the Vietnam-EU Free Trade Agreement (EVFTA) comes into effect as expected from July 2020. The EVFTA would open a great opportunity to penetrate a market with GDP of $18 trillion.
However, the ministry also noted that the COVID-19 outbreak has brought many difficulties to Việt Nam's trade activities. If the pandemic persists, it would have bad effects on the national export growth goal this year.
Most of Việt Nam's production materials such as garments and electronic components are imported from China, so the pandemic has also seriously affected imports. Việt Nam's agricultural exports via the border gates with China from February faced many difficulties because China has temporarily suspended goods trading of border residents due to the COVID-19 outbreak.
Therefore, the ministry has worked with commodity associations, corporations and foreign invested enterprises to evaluate production and export activities and then has proposed solutions to the Government to remove the difficulties in production and export activities.
In addition, the ministry would issue guidance to implement commitments of the EVFTA. That will create favourable conditions for enterprises to take advantages from this agreement to promote exports.  VNS
Read original article here
Newer News
20/01 Germalink port receives first commercial vessel
19/01 Two wind power plants to be built in Tien Giang province
15/01 Vietnam always a leading partner of Netherlands in Asia
13/01 Difficult year ahead for leather-footwear sector: experts
13/01 Two more Vietnamese dairy producers licensed to export to China
12/01 Vietnam prepares best conditions to spur economic growth: forum
08/01 FDI enterprises increase but more losses reported
07/01 HCM City's retail market grows by 11.9 percent despite pandemic
05/01 Gov’t issues Resolution on 2021 socio-economic development
05/01 HCM City targets higher exports by key earners in 2021
Older News
12/03 Tight co-ordination needed to ensure EVFTA benefits
23/02 Digital platforms improve competitiveness
22/02 Telecoms firms turning to digital content
20/02 Boosting structural reform and businesses’ competitiveness vital to grab CPTPP opportunities
13/02 VN’s GDP growth to reach 6.25 percent if COVID-19 outbreak is contained in Q1
08/02 VN acts to improve labour productivity
02/02 VN invests $3.97m abroad in January
30/01 CPI in January hits record high in recent 7 years
29/01 Pepper price to remain low this year
24/01 FDI inflow in Đà Nẵng hits nearly $700m in 2019
Newsletter Signup
Top Stories
Number of new securities trading accounts reaches record high
Trade surplus posts record high since 2016
Reference exchange rate up 1 VND on June 5
Reference exchange rate up 6 VND on December 10
Reference exchange rate continue going down
Market Update
Last updated at 3:20:00 PM
VN-INDEX 1,136.12 -29.93/-2.57%
Real-time chart
Top 5 Actives
Top 5 Gainers
Top 5 Losers
My Favorite Quotes
Your most recently viewed tickers will automatically show up here if you type a ticker in the Get Quotes box on the top of the page.
Company Research
Type in the symbol above for thorough background information, key statistics and financial information.
Stock Sectors
We continuously improve our services, here are the latest updates...
Allow you to monitor a customised group of securities. You can set up multiple Portfolios to help you better manage your investments.
Trigger Alerts
Get up-to-date alerts delivered directly to your email address.
Stock Screener
Allow you to filter the market and find exactly what sort of company you are looking for.
Live Terminal
Get instant access to FREE REAL-TIME streaming quotes for hundreds of stocks from HOSE, HNX and UPCOM exchanges.