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Country earns high revenue from exports
25
Jul '08
Sources from General Statistics Office informed that Vietnam earned US $6.25 billion in the month of July only.

Total export during January to July, shows a rise of 38 percent, which sums to $36.8 billion value wise; of which FDI sector earned $16.5 billion with an increase of 40 percent.

There was much demand of products such as crude oil, apparel accessories which depicts rise of 52 and 32 percent respectively; followed by textile and garment with 20.5 percent. Even exports of gemstone garnered a noticeable growth.

Ministry of Industry and Trade (MOIT), expects to fetch export value of $61.2 billion this year.

Even though the country showcased an exemplary development in exports, dependence on imports is also quite high. Vietnam expended nearly $52 billion on imports of various products, representing a growth of 57 percent over similar period previous year.

To stabilize the market and maintain demand-supply chain of essential products, MOIT encourages enterprises and concerned agencies, to boost the production, continuously. This will reduce reliance on import and boost export of products with high economic value.

Fibre2fashion News Desk - Vietnam

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