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CONTINOUS EXPORT SURPLUS TO CAMBODIA

VCN- The statistics of the General Department of Customs show that, in recent years, Vietnam has remained the state of export surplus to the Cambodian market.

continous export surplus to cambodia
Chart of the value of import-export turnover between Vietnam and Cambodia in period 2011-2016, the unit of “billion USD”. Chart: T.Bình.

In particular, in 2011, the total import-export turnover between the 2 countries reached $US 2.84 billion, in which the Vietnam’s exports were $US 2.41 billion, and the imports from Cambodia were near $US 430 billion and trade surplus reached $US 1.98 billion.

By 2013, the export surplus from Vietnam to the country reached the highest point of $US 2.4 billion, accounting for 83% of the total export value of our country to Cambodia. In 2016, despite the decrease, the level of trade surplus still reached $US 1.5 billion.

In the two-way trade of Vietnam with the ASEAN’s countries, Cambodia ranked number 6 in terms of the export and number 7 in terms of the import in 2016. Despite being neighbouring countries, the import-export activities between Vietnam and Cambodia are not commensurate with the potential of the two countries. The total import-export volume with the country over years have accounted for a very small proportion of the Vietnam’s total import-export turnover (about 1.1%-1.2%).

The latest statistics show that the import-export turnover for the first three months in 2017 was $US 1.08 billion, in which the exports were $US 640 million, reduced by 19.6% compared to the same period in 2016, and the imports were $US 446 million, increased by 29.8% compared to the same period in 2016.

On export, the growth rate of Vietnam to the Cambodian market was quite good in the years of 2012, 2013, but decreased slightly in the following years.

In 2016, Cambodia was ranked no. 23 among over 200 export markets of Vietnam with the total export turnover of $US 2.2 billion, reduced by 8.6% compared to 2016 and only accounted for 1.2% of the Vietnam’s total export turnover.

Vietnam’s main exports to Cambodia are petroleum, iron and steel, products from iron and steel, textiles…

Cambodia is the leading import market for petroleum, iron, and steel of Vietnam in 2016 (accounted for 36.7% and 18.2% the Vietnam’s export turnover of these products).

The petroleum volume exported to Cambodia in 2016 reached $US 667 thousand tons, rose by 5.1%. However, due to the fall in export prices, the export value of this item reached only $US 293 million, a significant decrease of 21.2% compared to 2015.

For steel products (655 thousand tons valued $US 307 million, reduced by 9% and 20%, respectively); textiles: $US 244 million, rose by 19.2%; raw materials for leather and footwear: $US 152 million, increased by 4.2%; plastic products: $US 97 million, down by 5.8% compared to 2015…

On import, Cambodia was ranked no. 22 on providing goods for Vietnam’s enterprises in 2016 with the total import turnover of $US 726 million, fell sharply by 23.3% compared to 2015.

Compared to the ASEAN’s countries, the import turnover from Cambodia to Vietnam ranked no.6 (higher than those from Laos, Myanmar, and Brunei) and accounted for 3% of the total imports from all the ASEAN’s countries.

Vietnam’s main imports from Cambodia over the year were: wood and wood products reached $US 182 million, decreased by 52.7%; cashew reached $US 114 million, reduced by 14.4%; rubber reached $US 84 million, increased by 9%; soybean were $US 23 million, down by 10.7% compared to 2015.

By Thai Binh/ Kieu Oanh

Source: http://customsnews.vn/

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RULES OF ORIGIN: THE BIGGEST BARRIER OF TEXTILE EXPORTS TO THE EU

VCN- At the Vietnam Textile and Garment Conference on rules of origin in the EU-Vietnam Free Trade Agreement (EVFTA) co-organized by the Vietnam Textile and Apparel Association (Vitas) and EU-MUTRAP on 20th April 2017 in HCM City, experts said that the compliance with rules of origin was the biggest obstacle for exporters to enjoy tax incentives in this market.

rules of origin the biggest barrier of textile exports to the eu
Textile production at Saigon Garment Company No.3.

Regarding textile exports to the EU in recent years, Ms. Dang Phuong Dung, the Deputy Head of the Vitas Advisory Board and EU-MUTRAP expert said that although the EU was the largest textile import market in the world, it was only the second largest textile export market of Vietnam (after the US). The growth rate of the textile and garment export turnover to the EU as well as the proportion of imported textile and garment into the EU have been still very small, which shows the weak competitiveness of Vietnamese garment products. The negotiation and signing of EVFTA are to create more favourable conditions for domestic businesses to improve their competitiveness in this market.

According to Ms. Dang Phuong Dung, the export of textile and garment products to the EU in the past time faced difficulties due to strict criteria of the EU market with small orders, not as large as the US. In addition, the importers tend to buy package products instead of processing goods, so most Vietnamese businesses which are not competitive find is difficult to access.

EVFTA will create more favourable conditions for domestic enterprises to expand their market thanks to preferential tax policies. However, according to Ms. Dang Phuong Dung, rules of origin were the biggest obstacles for textile and garment to enter the EU market from when EVFTA took effect because Vietnam mainly imports goods from China. In recent years, Vietnam has signed many FTAs with ASEAN, Korea and Japan on the rules of origin on the fabrics, but the ability to use rules of origin of Vietnam is very limited.

EVFTA, however, applies accumulation rules, which allows Vietnamese exporters to use textile from a third country that has signed an FTA with Vietnam and the EU (South Korea as an example). This is a good opportunity for Vietnam because in the future, the ASEAN countries will increase sign FTA with the EU, and Vietnam can expand the source of materials to enjoy tax incentives.

Ms. Vu Thi Phuong, the Deputy Secretary General of the Vietnam Textile and Garment Association, said that in the first two months of 2017, textile and garment export turnover to the EU market reached $US 480 million, an increase of nearly 7% compared to the same period of 2016. This is considered to be a positive sign for textile and garment exports to this market. Although the proportion of textile and garment exports to the EU is still low (only accounting for 1.9% of total EU textile and garment imports by 2015), textile and apparel imports into the EU are subject to a high tax rate of 8-12. %, But with EVFTA, the EU will be a potential market for export garment and textile. Since this agreement takes effect, many products will be reduced to 0% and after 7 years, all exports to the EU market will be reduced to 0%.

According to Mr. Stefan Moser, the EU-MUTRAP expert, in order to meet the requirements of EVFTA rules of origin, exports to the EU must meet the requirements of fabric produced in Vietnam or the EU, or from one-third country which has had FTAs with Vietnam and EU. However, the rate of utilization of bilateral rules of origin (EU imports of fabric for production and re-export to the EU) is very low because the price of EU fabrics is very expensive with a high transportation cost.

According to Mr. Stefan Moser, insufficiently processing activities such as preservation, unpacking, assembly of packages and polishing do not meet the requirements of rules of origin, so in the case where enterprises still declare and export to the EU, they may be detected and fined by the European Regulatory Authority.

According to experts, the opportunity from EVFTA is very high, but domestic enterprises must meet the requirements of rules of origin to take advantage of the opportunity. Meanwhile, according to Ms. Vu Thi Phuong, the practical use of tax incentives from the signed FTA has been quite low. Currently, there are only 35% of Vietnam’s export products make full use of the opportunities provided by FTAs, while 65% are still subject to high tariffs. In order to support enterprises, the Vietnam Textile and Garment Association has actively propagated and provided information on the market for enterprises to prepare. “The regulations of the FTAs are increasingly tight and enterprises must carefully prepare to take advantage of opportunities from integration”, Ms. Phuong emphasized.

By Nguyen Hue/ Hoang Anh

Source: http://customsnews.vn/

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VEGETABLE EXPORTS REACH NEARLY 190 BILLION VND PER DAY

VCN- Vegetable exports continue to be an impressive bright spot in the export activities of the first two months of 2017 in Vietnam with a high growth of double-digit, bringing the amount of nearly 190 billion vnd per day.

vegetable exports reach nearly 190 billion vnd per day
The Tan Thanh border gate – exporting point of vegetables in fruits to China. Photo: Thai Binh.

73% of vegetable exports to China

According to the latest statistics from the General Department of Vietnam Customs, by 15th April 2017, the total value of fruit and vegetable exports reached $US 857 million, an increase of nearly 30% compared to the same period in 2016 (reaching $US 661 million), equivalent to an increase of $US 196 million.

Thus, on average, each day vegetable exports brought about $US 8.2 million, equivalent to the amount of nearly 190 billion vnd per day.

As a result, vegetables and fruits continue to maintain the third largest commodity exports in agricultural and aquatic products in Vietnam (after seafood and coffee).

Notably, vegetables and fruits had a stronger growth rate than seafood (only 7.8%) and coffee (21%). Thus, the difference between vegetables and the two above commodity groups was narrowed down.

Regarding the export market, Vietnamese vegetables have been exported to many countries and regions in the world such as Asia, Europe, and America. In particular, there have been many markets requiring high quality such as the United States, Japan, Australia, South Korea and European countries such as Germany and Netherlands.

However, the biggest market of Vietnamese vegetables and fruits was still China. According to the latest statistics from the General Department of Vietnam Customs, exported fruits and vegetables to China reached $US 512 million, accounting for 73% of the total export value of this commodity in the same period.

At the local border near China, the area of exported vegetables and fruits were concentrated mainly at Tan Thanh border gate area (Lang Son) and Lao Cai border gate area.

Diversifying the market

Regarding the results on the export of vegetables recently, on 24th April 2017, speaking to a reporter of the Customs Newspaper, Dr. Nguyen Huu Dat – the executive of the Vietnam Fruit and Vegetable Association (VINAFRUIT) said that the results of fruit and vegetable exports were very positive.

According to Dr. Nguyen Huu Dat, the fruit and vegetable exports have been increasingly flourishing for many reasons.

Firstly, the trade promotion and market expansion by State management agencies have been creating positive results. As a result, Vietnamese vegetables and fruits have started to promote in the fastidious markets such as the United States, Japan, South Korea or EU countries.

“Although the value of export turnover to these markets is not high, but the export of vegetables to the fastidious markets with a high quality will increase the prestige for Vietnamese vegetables and fruits”, Dr. Dat said.

On the other hand, according to Dr. Nguyen Huu Dat, an increase in the demand for fruits and vegetables in the world was an opportunity for export growth of this product in Vietnam now as well as in the coming time.

In particular, an important cause which was emphasized by Dr. Nguyen Huu Dat was the role of scientists, the business community, producers and farmers in the effort to diversify the design and quality, brand promotion for Vietnamese vegetables and fruits.

“Although the fruit and vegetable export businesses have limited financial resources, they have efforts in promoting the brand and seeking the export markets. On the other hand, in the past two years, there has been a close connection among the exporters, the farmers, and the producers. Therefore, the quality and design of the products have been increasingly improved, thereby creating the prestige for Vietnamese vegetables and fruits in the world market”, the VINAFRUIT leader said.

In 2016, vegetables and fruits brought $US 2.457 billion, with a growth rate of 33.6% compared to 2015. This was the third largest export commodity in the field of agriculture (after fishery and coffee) and was the second fastest growing commodity group in the total of 45 key export categories which were listed by the General Department of Vietnam Customs (after gemstones, precious metals and products with a growth rate of 44.4%).

By Thai Binh/ Hoang Anh

Source: http://customsnews.vn/

 

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SEAFOOD EXPORTS UP NEARLY 8% IN FIRST QUARTER

Aquatic product exports rose by 7.9% to US$1.51 billion in the first quarter of this year, according to latest statistics from the General Department of Vietnam Customs.

seafood exports up nearly 8 in first quarter

In the period, Japan surpassed the US to become the largest consumer of Vietnamese aquatic products with a revenue of US$252.9 million (up 29.5%), accounting for 16.7% of the country’s total seafood exports.

The US came second with a value of US$251.2 million (down 14.8% against the same period last year) and China ranked third with US$144.47 million (up 17.9%).

In general, seafood exports to global markets saw a decline compared to the same period last year, especially Kuwait (-48%), Romania (-39.5%), Iraq (-57.6%) and Turkey (-35.5%). However, exports to traditional markets still enjoyed a growth, even robust growth, namely Israel (+138.6%), Denmark (+107.2%), and Brazil (+75.1%).

The Vietnam Association of Seafood Exporters and Producers (VASEP) has forecast that seafood exports is likely to increase by 5% to around US$7.5 billion this year. However, it is not an easy task for the seafood sector due to technical barriers to trade, unpredictable development of diseases and the shortage of raw materials for processing.

Meanwhile, the US still considers imposing anti-dumping duties on Vietnamese frozen fish fillets.

Source: VOV

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THE MAIN EXPORT COMMODITIES IN Q1/2017

VNC – According to the General Department of Customs, export turnover of 10 largest commodities in the first quarter 2017 reached nearly $US 31.76 billion, accounting for 71.1% of the country’s total export turnover. In which, telephones and accessories were the largest commodities, yet decreased by 6.1% over the same period last year, while most of the top 10 commodities achieved positive growth.

the main export commodities in q12017

10 largest export commodities in the first quarter of 2017 compared with the same period of 2016

Telephones and accessories: Exports of telephones and accessories reached $US 3.09 billion in March 2016, an increase of 31% over the previous month, bringing the export value of this commodity to $US 7.77 billion in the first quarter 2017, down to 6.1% over the same period in 2016.

The main importers of Vietnamese telephones and accessories in the past three months include: the EU with $US 2.38 billion, down nearly 6.1% and occupying 30.6% of the country’s total export value in this commodity groups. Followed by the United Arab Emirates: nearly $US 901 million, down 19.9%; South Korea: $US 755 million, up 32.8%; United States: $US 620 million, down 43% … over the same period in 2016.

Textile and garment: Export value reached $US 2.1 billion, up sharply from 51.6% over the previous month, thereby raising the export value of this commodity group in the first three months 2017 to $US 5.62 billion, an increase of 10 % over the same period in 2016.

In the past three months, textile and garment exports turnover to the US market reached $US 2.72 billion, up 8.1%; to the EU reached $US 733 million, up 6.6%; to Japan reached $US 715 million, up 12.4% and to Korea: 617 $US million, up 17.1% over the same period in 2016.

Computers, electronic products, and components: Exports of computers, electronic products and components reached the highest level so far in March 2017 with a turnover of $US 2.19 billion, up 27, 5% over the previous month. As a result, the total export turnover of this group of three months increased to $US 5.52 billion, a 47.8% increase compared to the same period of 2016.

China remains the largest Vietnamese importer of this commodity group in the past three months with turnover reaching $US 1.37 billion, rising by 123.5%; followed by the EU: $US 1.04 billion, up 12.3%. Exports to these two markets accounted for 44% of country’s total exports of computers, electronic products, and components

Footwear: Exports of this group in this month reached over $US 1.09 billion, up 26.6% over the previous month. Hence, export turnover of this commodity group in the first quarter 2017 reached nearly $US 3.12 billion, up 11.9% over the previous month.

The import markets of footwears in Vietnam in the first quarter 2017 mainly include the US market with $US 1.07 billion, up 13.3% over the same period last year; EU market (28 countries) reached $US 988 million, up 9.9%; China market reached $US 240 million, up 28.5%;

Machinery, equipment, tools and other spare parts: Export turnover reached nearly US$ 1.13 billion in the month, up 24.3% over the previous month, bringing the export turnover to nearly $US2.91 billion in this quarter, up 37.5% over the same period last year.

The import markets of machinery, equipment and other spare parts of Vietnam in the first quarter 2017 mainly include the US market with $US 602 million, up 26.7%; Japan market reached $US 402 million, up 14.5%; China market is $US 370 million, up 85.6%;

Agricultural products (including vegetables, cashew nuts, coffee, tea, pepper, rice, cassava and cassava products): Agricultural exports reached $US 1.59 billion in March 2017, bringing the export turnover to $US 3.94 billion in this quarter, up 15.3% over the same period last year.

Import markets of Vietnam’s agricultural products in the first quarter of 2017 mainly include: China market with $US 1.47 billion, up 27.6% over the same period last year; EU market (28 countries) with $US 748 million, up 24.8%; US market with $US 457 million, up 23.5%; ASEAN market with $US 371 million, down 17.5%; Japan market with $US 92 million, up 17%; Korea market with $US 86 million, up 52%;

Exports of fruits and vegetables in this month reached $US 280 million, up 49.5% over the previous month, bringing the export turnover reached $US 701 million in the first quarter 2017, up 29.8% over the same period last year.

Cashew nut export in this month achieved strong growth in both volume and value, with 24 thousand tons worth $US 230 million, up 80.1% in volume and 88% in value over the previous month. Thereby, export turnover of this commodity group reached 56 thousand tons in the first quarter 2017, valued at $US 515 million, down 4.6% in volume, yet up 16.9% in value.

Coffee export reached 168 thousand tons in the month, worth $ 382 million; Increased 14.8% in volume and 15.1% in value, bringing the export turnover in 3 months 2017 reached 454 thousand tons, worth nearly $US 1.03 billion, down 4.3% in volume, yet 27.5% in value over the same period last year.

Rice export in this month reached 551 thousand tons, worth US$ 251 million, up 38.8% in volume and 47.2% in value over the previous month, thereby bringing the rice export turnover in first 3 months 2017 reached 1 29 million tons worth $US 565 million, down 17.5% in volume and 17.3% in value over the same period last year.

Rubber exports in this month were 66 thousand tons, worth $US 138 million, down 26.8% in volume and 27.9% in value, bringing the export turnover in the first quarter of this commodity group reached 250 thousand tons, worth $US 511 million, up 6.7% in volume, up 90.7% in value over the same period last year.

Seafood products: Vietnam’s seafood exports reached $US 603 million in March 2017, up 41.6% over the previous month, thereby bringing the total export turnover of these commodities to $US 1.51 billion in the first 3 months 2017, up 7.9% over the same period last year. By the end of March, Vietnam’s seafood exports grew in most main markets except the US. Specifically, exports to Japan: $US 253 million, up 29.3%; United States: $US 251 million, down 14.4%, to the European Union (EU): $US 249 million, up 2.3%; China: $US 144 million, up 20.9% and South Korea $US 141 million, up 26.4%…

Crude Oil: The volume of crude oil export was 470 thousand tons in this month, down 11.8%, worth $US 181 million, down 18.3% from the previous month. By the end of March 2017, the country’s crude oil exports reached 1.52 million tons, down 16.2% and $US 637 million, up 27.1% over the same period last year.

The crude oil of Vietnam is mainly exported to China: 704 thousand tons, down 39.8%; to Japan: 237 thousand tons, up 206.9%; to Singapore: 193 thousand tons (there is not any crude oil exported to this country by the same period in 2016)
Coal: Vietnam’s coal exports reached 194 thousand tons in March 2017, up 45.2% over the previous month, worth $US 30 million, up 31.8%. In the first three months of 2017, the amount of coal exported was 401 thousand tons, up 5.1 times and reached the value of nearly $US 65 million, up 12 times from the same period in 2016.

China continues to be the biggest coal consumer of Vietnam with over 5 million tons, up 4% and accounting for 80% of country’s total exports.

By HA NHI/LINH PHAN

Source: http://customsnews.vn/

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Mobile phones exported to South Korea increased by more than 100%

VCN- While mobile phones exported to important markets slightly increased or decreased, mobile phones exported to South Korea sharply increased by 107.7%.

xuat khau dien thoai sang han quoc tang hon 100
Illustrative photo.

According to the latest statistics of the General Department of Vietnam Customs, in January 2017, Vietnam exported mobile phones to 37 countries and territories.

Notably, compared to the same period in 2016, South Korea has surpassed the United Arab Emirates (UAE) to become the largest export market of Vietnam in the field of mobile phones and components.

Specifically, in January 2017, mobile phones and components exported to South Korea reached $US 229.6 million, an increase of $US 125.6 million compared to the same period in 2016, equivalent to an increase of 107.7%.

Meanwhile in the UAE market, exported mobile phones of Vietnam fell from $US 365 million in January 2016 to $US 228.5 million in January 2017, equivalent to a decrease of 37.4%.

By the end of January 2017, mobile phones and components continued to be the largest export item of Vietnam with a turnover of $US 2,329 billion, an increase of 2.6% compared to the same period in 2016.

In addition to the 2 big markets South Korea and the UAE, in January 2017, the largest import markets of mobile phones from Vietnam with a turnover of more than $US 100 million included: the United States with an import turnover of $US 206.8 million; Austria with an import turnover of $US 163.3 million; Italy with an import turnover of $US 144.8 million and Hong Kong with an import turnover of $US 112.3 million.

By Thai Binh/ Hoang Anh

Source: http://customsnews.vn/