Vietnam's rice export - Illustrative photo (Photo: VNA) Hanoi (VNA) – Vietnam’stotal export earnings hit 17.5 billion USD in July, bringing the seven-monthtotal to 115.2 billion USD, up 18.7 percent annually, according to the Ministryof Industry and Trade (MoIT).
In particular,agro-forestry-fisheries remained a key currency earner.
After a Memorandum ofUnderstanding on rice trade was extended in late May by the Vietnamese Ministryof Industry and Trade and the Bangladeshi Food Ministry, rice export has kept growing,ending the prolonged decline.
Accordingly, Vietnam shipped465,000 tonnes of rice worth 201 million USD abroad in July, pushing the totalrice exports in seven months to 3.3 million tonnes valued at 1.5 billion USD,up 15.7 percent and 13.7 percent in volume and value, respectively.
The country recently won abid to export 175,000 tonnes of rice to the Philippines, slightly raising thedomestic rice prices in the south.
Fuel, minerals and processingindustry with key items such as coal, crude oil, petroleum, apparel, leatherand footwear, computers and cell phones continued moderate growth of 18.1 –39.4 percent.
The US remained the largestexporter with seven-month value of 23.4 billion USD, up 9.9 percent year-on-year.It was followed by the European Union, China, ASEAN, Japan and the Republic ofKorea.
During the month, Vietnamspent 17.8 billion USD on imports, down 1.6 percent. On seven-monthcalculation, the total imports soared 24 percent to 118.3 billion USD. Therefore,its trade deficit reached 300 million USD in July and roughly 3.08 billion USDin seven months, or 2.7 percent of the total export.
The MoIT forecast that thetotal export revenue will near 200 billion USD this year, marking a 13 percentincrease annually. The total trade deficit will be about 5 billion USD, or 2.5percent of the total export and lower than 3 percent set by the NationalAssembly.
Imports will scale downbetween now and the year’s end due to massive disbursement for imports earlythis year.
The ministry will also adopttrade defence measures for imports in line with the law and internationalcommitments.-VNA
In particular,agro-forestry-fisheries remained a key currency earner.
After a Memorandum ofUnderstanding on rice trade was extended in late May by the Vietnamese Ministryof Industry and Trade and the Bangladeshi Food Ministry, rice export has kept growing,ending the prolonged decline.
Accordingly, Vietnam shipped465,000 tonnes of rice worth 201 million USD abroad in July, pushing the totalrice exports in seven months to 3.3 million tonnes valued at 1.5 billion USD,up 15.7 percent and 13.7 percent in volume and value, respectively.
The country recently won abid to export 175,000 tonnes of rice to the Philippines, slightly raising thedomestic rice prices in the south.
Fuel, minerals and processingindustry with key items such as coal, crude oil, petroleum, apparel, leatherand footwear, computers and cell phones continued moderate growth of 18.1 –39.4 percent.
The US remained the largestexporter with seven-month value of 23.4 billion USD, up 9.9 percent year-on-year.It was followed by the European Union, China, ASEAN, Japan and the Republic ofKorea.
During the month, Vietnamspent 17.8 billion USD on imports, down 1.6 percent. On seven-monthcalculation, the total imports soared 24 percent to 118.3 billion USD. Therefore,its trade deficit reached 300 million USD in July and roughly 3.08 billion USDin seven months, or 2.7 percent of the total export.
The MoIT forecast that thetotal export revenue will near 200 billion USD this year, marking a 13 percentincrease annually. The total trade deficit will be about 5 billion USD, or 2.5percent of the total export and lower than 3 percent set by the NationalAssembly.
Imports will scale downbetween now and the year’s end due to massive disbursement for imports earlythis year.
The ministry will also adopttrade defence measures for imports in line with the law and internationalcommitments.-VNA
VNA
