Vietnam Reports Impressive Gem, Precious Metal Exports

Vietnam is estimated to export US$800 million worth of precious stones and metals in February, bringing the total figure to nearly US$939 million in the first two months this year, up 3,052.6 per cent on-year, the government statistic showed.

 

The impressive earning was recorded after the State Bank of Vietnam (SBV) allowed domestic firms to sell gold abroad. Reportedly, the SBV had already issued export quota of 10 tons of gold for the local firms in just first ten days of February

 

Vietnam has exported gemstones and precious metals to 16 countries and regions, including Belgium, Switzerland, Australia, Japan and South Korea, between January and April.

 

In related news, local gold prices dropped VND230,000 per tael on February 25, or over 1 per cent, as the gap between domestic and world gold shrunk. Saigon Jewelry Company gold prices slipped to VND19.67 million per tael in HCM City and VND19.69 million per tael in Hanoi.

 

The precious metal, however, was sold for VND20.1 million per tael at other outlets across the country. (VnExpress)