Vietnam Expects to Introduce Import-Export Price Index in December

The Industry and Trade Information Center under the Vietnamese Ministry of Industry and Trade plans to introduce an import and export price index for the first time in Vietnam in December.

 

The center will use import and export statistics from the General Department of Customs to calculate the index, which is based on import-export items in line with the Prime Minister’s Decision No. 111/2008 on issuing general statistical reports of ministries and sectors.

 

The index will reflect price fluctuations of import and export goods in Vietnam’s import-export markets and show price comparisons like other indexes announced by the General Statistics Office (GSO).

 

On August 19, the center announced its pilot results on calculating the index, which involves the six export items of cashews, coffee, rice, tea, rubber and seafood and the six import items of iron and steel, vegetables and fruits, animal feed and materials, petroleum products, fertilizer and wood products.

 

The pilot index has also indicated Vietnam’s import and export activities in 170 countries and territories in the world.

 

The new index is expected to help local businesses and policy markers to assess and keep track of Vietnam’s import-export prices in its import-export markets to outline suitable business strategies. (Vietstock)