Domestic sector shines in exports
The domestic sector exported goods worth 10.72 billion USD in the first two months of 2019, up 9.9 percent on year compared to a 4.3 percent growth posted by the foreign-invested sector.
Harvesting coffee for exports (Photo: VNA)Hanoi (VNA) – The domestic sector exported goods worth 10.72 billion USD in the first two months of 2019, up 9.9 percent on year compared to a 4.3 percent growth posted by the foreign-invested sector.
During the period, the foreign-invested sector’s export value was 25.96 billion USD, accounting for 70.8 percent of Vietnam’s total exports, which hit 36.68 billion USD, an annual increase of 5.9 percent.
Regarding imports in the two months, which rose 7.5 percent year-on-year to 36.76 billion USD, Vietnamese firms contributed 15.29 billion USD, while their foreign peers 21.47 billion USD. Both rose against 2018, at 11 and 5.1 percent, respectively.
After recording an 816 million USD trade surplus in January, Vietnam returned to a trade deficit of 900 million USD in February, leading to a slight deficit of 84 million USD in the first two months.
On factors impacting import-export activities in January and February, Tran Thanh Hai, deputy head of the Export-Import Department under the Ministry of Industry and Trade, said agro-fishery exports faced difficulties in terms of distribution and prices. Most of its key exports, like cashew, coffee, rice and rubber, saw a decline in export prices.
Exports of energy and mineral goods, meanwhile, grew mainly due to a surge in crude oil shipments. Vietnam sold 1.19 million tonnes of crude oil in the past two months for 646 million USD, up 76.8 percent in quantity and 82.1 percent in value on year.
Hai said the country had eight products with export value exceeding 1 billion USD, mostly belong to the industrial and processing sector. Notably, garment and textile products’ earnings grew 19 percent to 4.89 billion USD. -VNA
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