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Exports Keep Growing
12 | 09 | 2007
The Ministry of Trade has put together statistics showing that Vietnam exported US$3.95 billion worth of goods and services in April bringing the first four months’ total to US$14.44 billion, 22 percent over the first four months in 2006.

The Ministry of Trade reported that a number of exports yielded revenue of more than US$1 billion, including seafood (US$1.036 billion), footwear (US$1.195 billion), crude oil (US$2.356 billion) and textile/garment (US$2.198 billion), while some other exports increased significantly.

Seafood exports in the first four months fulfilled just 28.19 percent of the year's target but this was 20.78 percent more than in the same time of 2006. The Ministry of Fisheries said that compared to last year, the price of exported seafood increased slightly but the price obtained for black tiger shrimp rose 50-70 percent climbing to VND90,000-120,000 per kilo (20 shrimp/kilo). The price rose because the main harvest season had ended, pollution caused harvests to drop, the demand for seafood in Vietnam went up for the local holiday (April 26 to May 1), and new seafood processing plants in the Mekong Delta increased demand.

Coffee exports came to US$947 million in the first four months, 84 percent more in quantity and 134 percent more in value over the first four months in 2006. In April alone, US$173 million worth of coffee was exported.

Rice and rubber exports fell in both value and quantity, with rubber exports being US$316 million for the first four months of 2007. The Ministry of Trade did say that rubber exports rose in April.

In the first four months, 1.4 million tonnes of rice was exported to earn US$443 million. More rice was exported in April than in March as Vietnam started to sell rice to a new market, Africa. Vietnamese rice exporters have contracts to export about 3.5 million tonnes and they've asked the Government to let them export a total of five million tonnes in 2007. In the Mekong Delta, farmers harvested 9.5 million tonnes of winter/spring paddy rice on 1.5 million hectares, 500,000 tonnes more than expectation. Vietnam and Indonesia recently signed a memorandum of understanding under which Indonesia is to buy one million tonnes of Vietnamese rice. In addition, the Philippine food agency is to purchase 103,750 tonnes of Vietnamese rice.

Bicycle and bicycle part exports fell 37 percent compared to the first four months in 2006. Pepper exports fell in quantity but earnings were up because the price was high in the world market.

Experts are feeling optimistic about exports in the months to come because exports did increase in April and this may be an indication of what is yet   to come. 

Viet Nam Economic News Online
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