Vietnam's wood exports likely to reach US$11 billion in 2019
Vietnam's export turnover of wood and forestry products is forecast to hit US$11 billion in 2019, according to an official from the Vietnam Administration of Forestry (VAF).
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Vietnam's export turnover of wood and forestry products is forecast to hit US$11 billion in 2019, according to an official from the Vietnam Administration of Forestry (VAF).
Vietnam's export revenue was estimated at 217.05 billion USD in the first 10 months of this year, up 7.4 percent annually, according to the Ministry of Industry and Trade.
Fruit and vegetable exports in the first eight months of this year reached US$2.53 billion, down 5.8% year-on-year, according to the Agro Processing and Market Development Department (Agrotrade) under the Ministry of Agriculture and Rural Development.
Steel exports generated US$1.93 billion in the first seven months of 2019, with the US remaining the largest importer of Vietnamese steel products.
Vietnam earned USD 10.17 billion from exports in the first half of June, raising the total earnings from January to June 15 to USD 111.26 billion, reported the General Department of Vietnam Customs.
The total export value of the agricultural, forestry and fishery sector in the first six months of this year was estimated at US$19.75 billion, a year-on-year increase of 2.1%.
The aquatic export turnover was estimated at VND3.2 billion in the first five months of 2019, a year-on-year decline of 1.7 percent, according the Agro Processing and Market Development Authority under the Ministry of Agriculture and Rural Development.
The exports of vegetables and fruits over the first five months of 2019 witnessed an increase of 10.3% against the same period last year, reaching US$1.83 billion, according to the Ministry of Agriculture and Rural Development.
Export turnover of agricultural, forestry and fishery products is expected to hit USD3.5 billion in April 2019, bringing the total figure for the first four months of the year to USD12.4 billion.
After a two-month trade deficit, the economy is expected to witness high export turnover this year thanks to buoyancy in export-oriented manufacturing fuelled by multilateral trade pacts.
The northern province of Ninh Binh earned an estimated of 351 million USD from exports in the first two months of this year, up 64.7 percent year-on-year, according the provincial Statistics Office.
Vietnam's shrimp exports are expected to increase to more than 4 billion USD in 2019 thanks to free trade agreements, said the Vietnam Association of Seafood Exporters and Producers (VASEP).
The Vietnam Textile and Apparel Association (VITAS) has set the industry's export turnover target this year at 40 billion USD, a 10.8 percent year-on-year increase from 2018.
The northern province of Ninh Binh's export revenue in nine months of 2018 topped 1.1 billion USD, up 33.6 percent year on year, helping the locality fulfill 88.9 percent of its yearly target.
Vietnam could earn about 239 billion USD in export revenue in 2018, up 10 - 12 percent from last year, analysts said, thanks to the favourable domestic and international economic context.
Vietnam exported 4.53 million tonnes of rice in the first eight months of 2018, bringing in US$2.29 billion, a rise of 10.5% in volume and 26.5% in value, according to the General Department of Customs.
Five commodities had export values exceeded US$1 billion in August, according to the Ministry of Industry and Trade.
Vietnam is now the seventh biggest tea producer in the world and the fifth biggest exporter of the product.
2,5 years after the ASEAN Economic Community was established, enterprises in Vietnam have found a way to capitalise on the bloc's import tariff cuts and expand their exports, helping to narrow the years-long trade deficit between Vietnam and ASEAN.
Vietnam has exported more than 15 million tonnes of cement in the first six months of 2018, a sharp increase of 50% over the corresponding period last year.
The export of forestry products in the first six months of the year reached US$ 4.15 billion, accounting for 46 percent of the yearly plan and up nearly 8.4 percent annually.
Export revenue of agroforestry-aquatic products hit US$3.2 billion in May, bringing the five-month figure to US$15.6 billion, up 9.9% year-on-year, according to the Ministry of Agriculture and Rural Development.
Vietnam earned 1.1 billion USD from exporting 2.16 million tonnes of rice in the first four months of 2018, up 35.7 percent in value and 21.7 percent in volume.
Vietnam's total steel exports for the first two months of the year increased 38.6% over the same period last year to more than 728,000 tonnes, according to the Vietnam Steel Association (VSA).
Despite market fluctuations, Vietnam's export revenue in 2017 is predicted to reach all time high of over US$212 billion which is also much higher than the revenue of US$176 billion posted in 2016,