Garment, steel exports set remarkable growth rates

According to the Viet Nam Customs, Viet Nam earned US$1.52 billion from exporting garment in March, up 46.3% against last month.

The figure brought export value of the product over the past three months to nearly US$4.44 billion, presenting a year-on-year increase of 19.4%.

The US, Japan and the EU are the largest garment importers of Viet Nam with turnovers of US$326 million, US$65.8 million and US$106 million, or year-on-year increases of 17.7%, 12.6% and 20.7%, respectively.

The nations accounted for 76% of the total.

Viet Nam imported 2.2 million tons of steel valued at US$1.5 billion in the first quarter of 2014, up 1.5% in volume and down 3.7% in value compared to a year earlier.

According to Viet Nam Customs statistics, Viet Nam spent US$568.3 million on the purchase of 827,000 tons of steel from overseas markets in March, principally from China, Japan, Taiwan, and the Republic of Korea.

The Viet Nam Steel Association (VSA) reported that its members sold 570,000 tons in March, rising by 60% from the previous month, up nearly 26.5% against last year's corresponding period.

In the reviewed period, steel consumption in the local market hit approximately 1.2 million tons, or 5.7% higher than the same period last year.

(Source: News.chinhphu.vn)