Country garners higher export revenue in Jan

29 Jan '08

2 min read

Reports from the General Statistics Office show that during January, top foreign exchange earners for the country were crude oil, textiles and apparels, and footwear.

By the end of this month, Vietnam is expected to fetch revenues worth US $4.5 billion, posting a year-on-year rise of 19.7 percent.

Due to recent rise in global oil prices, country gained $826 million from the exports of crude oil, showing a boost of 46.5 percent over last January, although export volumes declined by 12.7 percent year-on-year to 1.16 million tons.

In this month, the country garnered $720 million from textile and garment export, up by 20.7 percent and footwear grossed $400 million, demonstrating a fall of 5.4 percent against the same period of last year.

On the other hand, since the textile sector of the country depends mainly on imports, value climbed 27 percent to $5.5 billion, marking a trade deficit of $1 billion, for the month

To make the picture brighter, the country has set a target of $58.6 billion worth export turnover for the present fiscal.

To realize this optimistic objective, Vietnam is concentrating on improving quality of traditional export products, amplifying manufacturing scale of products with high export revenues and growth. Further, the nation is focusing on strengthening its trade promotion and exploring new markets.

Vietnam reaped export revenues of over 48 billion dollars in 2007, up 20.5 percent over 2006.

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