Vietnam may earn total export value of US$3 billion in December, up 11 per cent on-year and raising the whole year’s figure to US$32 billion, up US$500 million over the year’s plan, the Ministry of Trade (MoT) has forecasted, basing on good market signals for some exported items at the year’s end.
Electronics, cashew, plastic products, electric wires and cables as well as some other exported items are enjoying advantages in prices and markets due to increasing demand in the last months of the year, MoT said.
According to experts, prices of key export items such as coffee, sea products and rice will also rise in the coming time due to high demand from international markets.
Sources from MoT also revealed that demand for Vietnamese goods in China is increasing sharply. Apart from robber, China will post great demand for sea products, dried coconut, high-quality rice, processed fruit, preliminarily processed tea and coal in December.
Of which, three items in need of great import volume comprise of sea product (5,000 tons), high-quality rice (3,000 tons) and coal dust (100,000 tons).
Last week, Vietnam also saw a slight rise in the export of rubber to China, raising the total export volume of the item to China via Mong Cai border gate to 110,000 tons. Chinese importers said that the year’s figure would reach 150,000 tons.
Vietnam posted total export turnover of US$29.12 billion and an import bill of US$33.55 billion in the first eleven months of 2005, leaving a trade deficit of US$4.43 billion, down by 1 per cent compared to the same period last year, according to the government’s statistics office.
So far this year, among Vietnam’s export markets, US has still lead the rank with a total import value from the communist nation of US$4.8 billion, followed by ASEAN member nations with US$4.4 billion, EU with US$4.3 billion, Japan, US$3.5 billion and China, US$2.3 billion.
Deputy Minister of Trade Luong Van Tu noted that the excellent performance is partly due to Vietnam’s stepping up of its integration into the global economy.
So far, Vietnam has established trade relations with 224 countries and territories worldwide, and signed 87 bilateral trade agreements. Moreover, the country is a signatory to 350 development cooperation agreements, 48 agreements on investment encouragement and protection and another 37 bilateral agreements on cultural cooperation with foreign countries and international organizations.
Vietnam’s efforts in joining the world market enable the country to enjoy many tariff and non-tariff preferential treatments, thus propelling its export turnover to US$26.5 billion in 2004 from only US$2.4 billion in 1990.
Robust exports accounting for almost 50 per cent of the 2004 GDP have, in turn, spurred the national economic growth, which has constantly stayed at over 7 per cent.
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