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(VEN) - A slight growth in the export value in the first two months of 2010 shows that export has surpassed the bottom-line and gradually resumed growth.
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| Deputy Minister of Industry and Trade Nguyen Thanh Bien |
Vietnam reaped an estimated US$3.9 billion in the export value in February, 23.2 percent less than in the same period of 2009, according to the Ministry of Industry and Trade report. That was partly because the lunar New Year holidays fell in February. Thus, the total export value in the first two months was around US$8.91 billion, 0.1 percent more than a year ago with US$1.84 billion coming from agricultural, forest and seafood item export, up 2.2 percent.
The price of many export items rose fairly in the first two months. Similarly, that of cashews rose 20.6 percent, of tea 2.4 percent, of pepper 12.6 percent, of rice 24.1 percent, of cassava products 91.9 percent, of coal 44.7 percent, of crude oil 74 percent and of rubber 84.5 percent. Higher prices of these products led to an increase of around US$604 million in the export value.
As for export market, Vietnam's export value to some EU countries in February fell slightly of 2.2 percent over a year ago due to the low pace of economic recovery in these countries. However, exports to Asia rose 4.6 percent, to the US up 23.8 percent and to China up 26.3 percent. In the first two months generally, Vietnam's exports to Asia increased 31.9 percent, to EU up 0.5 percent, to the US up 25.8 percent and to China 54.4 percent more. In terms of the market share, Asia represented 48.7 percent of Vietnam's total export value, preceding America with 23.5 percent, the EU 19 percent, Oceania 4.5 percent, Africa 1.3 percent and other markets 2.9 percent.
In a talk with local press on March 3, 2010, Deputy Minister of Industry and Trade Nguyen Thanh Bien said the Ministry of Industry and Trade and relevant ministries and departments have effectively materialized the state policies to stimulate export. Accordingly, efforts were made to help businesses disentangle, in the meantime spur trade promotion in foreign markets to boost sales./.
By Hai Nam
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