Export turnover in January sees 28 percent increase

Vietnam’s export value reached US$4.9 billion, an increase of 28.1 percent against the same period last year, according to the General Statistics Office (GSO).
The GSO attributed the increase in export value to contributions from the foreign direct investment sector with an export turnover of US$2.6 billion, representing a 32.9 percent year-on-year increase.

The domestic economic sector also saw an increase of 22.8 percent with an export turnover of US$2.2 billion.

Thanks to the global economic recovery, exports of most of the country’s key staples increased in value compared to last year’s period. Crude oil topped the list with nearly US$570 million, followed by rubber with US$155 and rice with US$165.

Agro products including cashew nuts, peper, tea and cassava also rose from 44 to 142.1 percent.

Imports in January are estimated to reach US$6.2 billion, a 86.6 percent year-on-year increase, due to the high demand for inputs for domestic production.

The FDI sector’s imports reached US$2.3 billion- up93.4 percent while domestic economic sector stood at US$3.8 billion, up 82.6 percent.

The higher in import value chalked down to soaring prices on the world market for basic commodities such as petrol (up 53 percent), and steel (up 86 percent) as compared to last January.

Of the import items, the petrol increased by 3.8 percent to US$540 million, and machinery and equipment by 42.3 percent to US$1.1 billion.

Imports of consumer goods also rose, including milk up by 106.9 percent, paper by 81.8 percent, cars by 156.6 percent and motorbikes by 67.4 percent.

The trade deficit in January stood at US$1.3 billion, a drop of US$0.6 billion in December 2009.

Source: CPV/VOV News