Milanista1984
26-02-2009, 08:41 AM
The country’s revenue from exports in February is
estimated to hit US$4.3 billion, up 15.5 percent from the previous
month, said Bui Ha, head of the Department for National Economic Issues
under the Ministry of Planning and Investment.
However, the total export revenue for the first two
months of 2009 is likely to reach only US$8 billion, down 5 percent as
compared with the same period last year. Foreign-invested enterprises
fetched just US$2.8 billion from exports, a 13.8 percent drop over the
same period in 2008.
The export revenue reduction stems from a price slump
for Vietnam’s staples in the world market as well as shrinking markets
due to the global economic crunch. For example, major markets such as
the US, EU, ASEAN, and Japan reduced orders by more than 20 percent.
Meanwhile, the import turnover is projected to hit
US$4.4 billion, up 32.2 percent against January. Foreign-invested
enterprises imported US$2.8 billion, a decrease of 29.8 percent.
Vietnam is expected to enjoy a trade surplus of about
US$295 million in the first two months of 2009 - equal to 3.7 percent
of the country’s total export revenue. However, a dramatic decline in
imports critical to domestic production may cause huge difficulties for
the Vietnamese economy.
estimated to hit US$4.3 billion, up 15.5 percent from the previous
month, said Bui Ha, head of the Department for National Economic Issues
under the Ministry of Planning and Investment.
However, the total export revenue for the first two
months of 2009 is likely to reach only US$8 billion, down 5 percent as
compared with the same period last year. Foreign-invested enterprises
fetched just US$2.8 billion from exports, a 13.8 percent drop over the
same period in 2008.
The export revenue reduction stems from a price slump
for Vietnam’s staples in the world market as well as shrinking markets
due to the global economic crunch. For example, major markets such as
the US, EU, ASEAN, and Japan reduced orders by more than 20 percent.
Meanwhile, the import turnover is projected to hit
US$4.4 billion, up 32.2 percent against January. Foreign-invested
enterprises imported US$2.8 billion, a decrease of 29.8 percent.
Vietnam is expected to enjoy a trade surplus of about
US$295 million in the first two months of 2009 - equal to 3.7 percent
of the country’s total export revenue. However, a dramatic decline in
imports critical to domestic production may cause huge difficulties for
the Vietnamese economy.