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Five commodities with Export Value of Over US$1 Bln
11 | 06 | 2007
Export turnover reached over US $18 billion in the first five months this year, up 18.4 per cent from the same period last year, according to the latest report of the General Department of Statistics.
Of the figure, crude oil accounts for over US $3 billion; followed by garment and textile with nearly US $2.7 billion. Three other goods with export values over US $1 billion are footwear, fisheries and coffee. Many key export goods grew more than 20 per cent, coffee saw a rise of nearly 75 per cent in volume and 121 per cent in value.

Several key commodities with rising exports, but which haven’t exceeded US $1 billion, are expected to exceed US $ one billion in one or two months. They are wood products with current export value of US $947 million and electronic and computer components with US $744 million. Although the export turnover of rice is not as good as expected, it is regaining growth with current value of US $610 million. Meanwhile, rubber saw lower growth compared to last year, with current value of US $415 million, but it is quite possible for it to reach US $1 billion for the year.

Although the export turnover has risen in the past five months, it is still lower than the 24.2 per cent rise in the first five months last year, due to lower export turnover from foreign invested businesses. The sector’s export turnover rose only 14.7 per cent, down nearly one half compared to the same period last year.

Meanwhile, imports rose nearly 27 per cent, resulting in a trade surplus in the first five months of nearly US $3.3 billion. This demands greater efforts from leaders and businesses in coming months to keep the trade balance at a reasonable level.

Vietnam Bussiness Forum
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