Enterprises with foreign direct investment (FDI) continued to be a major factor generating trade surplus in the first four months of 2014, the Vietnam Business Forum Magazine (VBF) reported.
FDI businesses created trade surplus of total 4.1 billion USD while domestic enterprises faced a trade deficit of 3.41 billion USD, according to the Ministry of Industry and Trade.
Exports of FDI enterprises continued its high growth rate and made a major contribution to export growth. The country’s overall export in the first four months of 2014 increased 6.6 billion USD compared with last year's same period, of which the value of FDI sector (crude oil excluded) increased 4.7 billion USD (accounting for over 70 percent of additional export value).
The items of large export value and high growth rates were mainly contributed by FDI enterprises, including telephones and components (accounting for 99.6 percent of the country’s production); computer and electronic components (98.4 percent); footwear (76.7 percent); textiles (60 percent), etc.
Export in the first four months grew 16.9 percent over the same period in 2013 while import increased by 13.7 percent. Export surplus was estimated at 683 million USD nationwide, accounting for approximately 1.5 percent of total export value. This was a positive result for export sector in the first months of 2014.
Export of the processing industry group still played an important role, contributing significantly to the growth of the whole sector, rising 19.4 percent compared with last year. Main contribution for this group included mobile phones and components, textiles, footwear, wood and wood products, all are commodities of big export value and growth rate over 20 percent.
Agricultural and aquatic exports increased 14 percent with high growth recorded mainly on aquaculture products (32 percent), coffee (29.5 percent), pepper (41.3 percent), vegetables (23 percent). Mineral and fuels decreased by 10.5 percent with a decline in both volume and value of crude oil and coal products.
Imports of commodities needed for domestic production and consumption as well as for processing and re-export of FDI enterprises continued to grow, accounting for 88.5 percent of total import value. The import volume of many raw materials was increased due to fallen prices.
Imports of some commodities such as mobile phones, small cars under nine seats still had a high growth rate compared with the previous year.
Average export prices of some commodities rose including cashew, tea, rice, coal, crude oil, petroleum. Some items had lower average prices such as coffee, especially rubber’s price downed 24.9 percent, plastics fell 5.3 percent, iron and steel 9 percent.
Influenced by export prices, exports of agricultural products decreased 207 million USD; fuel and minerals increased about 97 million USD. In general, those two groups lost 110 million USD due to fallen export prices.
The first four months of 2014, Vietnam’s exports increased in most markets (except for some western, eastern and northern European countries where it decreased 7.5 percent). The Asian market was estimated at 13.6 percent increase, European markets (12.1 percent), American market( 27.8 percent), in which the United States increased by 26.8 percent, the highest was Brazil with 49.0 percent. Exports to African market estimated rose 14.1 percent; however, exports to some markets plummeted such as: Angola fell 46.3 percent, Ivory Coast decreased 66.4 percent.
Exports of agricultural, forestry and fishery products went up 13.2 percent compared with last year’s same period with many items enjoyed high growth, however, export prices of rubber and coffee, two key commodities, fell.
Exports of processing industrial commodities continued to play an important role, contributing to the overall growth in exports. This group's exports rose 19.4 percent over the same period last year, accounting for 72.2 percent of total exports.
Imports of commodities needed for domestic production and consumption as well as for processing and export of FDI enterprises continued to grow, accounting for 88.5 percent of total import value. The import volume of many raw materials was increased due to fallen prices.
Export value of mineral and fuels in April was estimated at 705 million USD, down 10.2 percent from the previous month and up 0.7 percent compared with the same period in 2013. Export in the first four months of 2014 was estimated at 2.91 billion USD, down 10.5 percent over the same period. Gasoline was the only product in the group experienced exports surplus compared with last year (up 6.4 percent) due to increased exports volume (up 5.4 percent).
Except ore and other minerals increased sharply, export prices of the other commodities remains generally stable. Decreased export volume was the main reason of declined export of this group. In the first four months, the group’s export fell 390 million USD.-VNA
FDI businesses created trade surplus of total 4.1 billion USD while domestic enterprises faced a trade deficit of 3.41 billion USD, according to the Ministry of Industry and Trade.
Exports of FDI enterprises continued its high growth rate and made a major contribution to export growth. The country’s overall export in the first four months of 2014 increased 6.6 billion USD compared with last year's same period, of which the value of FDI sector (crude oil excluded) increased 4.7 billion USD (accounting for over 70 percent of additional export value).
The items of large export value and high growth rates were mainly contributed by FDI enterprises, including telephones and components (accounting for 99.6 percent of the country’s production); computer and electronic components (98.4 percent); footwear (76.7 percent); textiles (60 percent), etc.
Export in the first four months grew 16.9 percent over the same period in 2013 while import increased by 13.7 percent. Export surplus was estimated at 683 million USD nationwide, accounting for approximately 1.5 percent of total export value. This was a positive result for export sector in the first months of 2014.
Export of the processing industry group still played an important role, contributing significantly to the growth of the whole sector, rising 19.4 percent compared with last year. Main contribution for this group included mobile phones and components, textiles, footwear, wood and wood products, all are commodities of big export value and growth rate over 20 percent.
Agricultural and aquatic exports increased 14 percent with high growth recorded mainly on aquaculture products (32 percent), coffee (29.5 percent), pepper (41.3 percent), vegetables (23 percent). Mineral and fuels decreased by 10.5 percent with a decline in both volume and value of crude oil and coal products.
Imports of commodities needed for domestic production and consumption as well as for processing and re-export of FDI enterprises continued to grow, accounting for 88.5 percent of total import value. The import volume of many raw materials was increased due to fallen prices.
Imports of some commodities such as mobile phones, small cars under nine seats still had a high growth rate compared with the previous year.
Average export prices of some commodities rose including cashew, tea, rice, coal, crude oil, petroleum. Some items had lower average prices such as coffee, especially rubber’s price downed 24.9 percent, plastics fell 5.3 percent, iron and steel 9 percent.
Influenced by export prices, exports of agricultural products decreased 207 million USD; fuel and minerals increased about 97 million USD. In general, those two groups lost 110 million USD due to fallen export prices.
The first four months of 2014, Vietnam’s exports increased in most markets (except for some western, eastern and northern European countries where it decreased 7.5 percent). The Asian market was estimated at 13.6 percent increase, European markets (12.1 percent), American market( 27.8 percent), in which the United States increased by 26.8 percent, the highest was Brazil with 49.0 percent. Exports to African market estimated rose 14.1 percent; however, exports to some markets plummeted such as: Angola fell 46.3 percent, Ivory Coast decreased 66.4 percent.
Exports of agricultural, forestry and fishery products went up 13.2 percent compared with last year’s same period with many items enjoyed high growth, however, export prices of rubber and coffee, two key commodities, fell.
Exports of processing industrial commodities continued to play an important role, contributing to the overall growth in exports. This group's exports rose 19.4 percent over the same period last year, accounting for 72.2 percent of total exports.
Imports of commodities needed for domestic production and consumption as well as for processing and export of FDI enterprises continued to grow, accounting for 88.5 percent of total import value. The import volume of many raw materials was increased due to fallen prices.
Export value of mineral and fuels in April was estimated at 705 million USD, down 10.2 percent from the previous month and up 0.7 percent compared with the same period in 2013. Export in the first four months of 2014 was estimated at 2.91 billion USD, down 10.5 percent over the same period. Gasoline was the only product in the group experienced exports surplus compared with last year (up 6.4 percent) due to increased exports volume (up 5.4 percent).
Except ore and other minerals increased sharply, export prices of the other commodities remains generally stable. Decreased export volume was the main reason of declined export of this group. In the first four months, the group’s export fell 390 million USD.-VNA
