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Eight-month export turnover hits 43.3 billion USD

In Uncategorized on August 25, 2008 at 11:44 am

Hanoi (VNA) – Vietnam ’s export turnover in the first eight months of this year reached 43.3 billion USD, a year-on-year increase of 39 percent, the General Statistics Office (GSO) reported.

Nine products in the “one-billion USD” club have fulfilled their targets, according to the GSO.

Crude oil continued to retain its top place, fetching 7.88 billion USD between January-August. It was followed by garments and textiles with a value of 6 billion USD, up 20 percent from the same period a year ago.

The export of other industrial products also enjoyed high growth rates, with footwear hitting 3.16 billion USD; electronic appliances and computers, 1.66 billion USD; wood furniture, 1.8 billion USD; and rubber, 1.04 billion USD.

Farm produce made a breakthrough in export turnover during the reviewed period. Seafood saw a three-year record rise of 20.8 percent to reach nearly 2.9 billion USD, while rice brought home 2.24 billion USD and coffee, 1.54 billion USD, respective year-on-year increases of 96 percent and 9 percent.

Despite positive export growth, trade deficit remains burden on the country’s trade balance as it climbed up to 16 billion USD, equal to 37 percent of the total export turnover.

The GSO reported that Vietnam ’s eight-month import value was estimated at 59.3 billion USD, up 54 percent from the same period last year. Of the amount, the domestic sector imported more than 40 billion USD worth of products and the foreign-invested sector, 19.2 billion USD, posting year-on-year rise of 65.4 percent and 41.3 percent, respectively.

The Ministry of Industry and Trade said it will take comprehensive measures in the year-end months to curb trade deficit alongside with stabilising the domestic market and ensuring the supply-demand balance of essential goods.

Besides efforts to boost exports, the ministry will also work to improve pricing forecast in the context of the world market’s strong fluctuations.-

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