HANOI, Jan 13 (Reuters) - Vietnam reported a 19% growth in exports last year, as it saw its trade surplus with the United States, its largest export market, widening to an all time high, government data showed on Thursday showed. Inflation came in at 3.9% in September, up from Augusts 2.9%. What are credit rating agencies thinking" about the banking system of Vietnam? That is considered an important driver for increasing export value in 2022. A key priority in the strategy is to ensure a balanced trade in the next five years, and gradually reach a sustainable surplus in the 2026-2030 period. With FDI capital invested in Vietnam's industries in recent years, the export turnover of this group of goods still has a lot of room for growth in the coming years. Textile exports hit USD 8.2 billion in the first two months of 2022, up 59% year-on-year, said Vu Duc Giang, chairman of the Vietnam Textile and Apparel Association. International firms from the EU could also relocate to Vietnam due to the Russian invasion of Ukraine. Outlook for Vietnams key export product groups. BSC offers two scenarios based on the possibility of a recession in the world's largest economy. Preliminary data shows that GDP growth soared to 13.7% year on year in the third quarter, up from 7.8% in the second quarter, amid a base effect related to the large-scale lockdown in Q3 2021. They include the value of merchandise, freight, insurance, transport, travel, royalties, license fees, and other services, such as communication, construction, financial, information, business . Besides facing a slowdown in export growth, China has to contend with other domestic issues, including soaring energy prices and rising raw material costs. These manufacturers include Thanh Cong Textile Garment Investment and Trading JSC and Garment 10 Corporation JSC. Industrial output grew 25.9% compared to the same month of the previous year in September, which was a deterioration from August's 27.2% increase. Under the strategy, Vietnam's exports are expected to expand by 8-9% in 2021-2025, and 5-6% in 2026-2030. Vietnam Exports -2022. According to the general method, before making a statement and assessment Vietnam Credit Ratings JSC. Companies will face more trade defense lawsuits that are likely to increase in many countries since the market tends to increase the protection of goods and supply chains. The Nikkei purchasing manager's index for manufacturing in Vietnam touched . Assuming the COVID-19 pandemic will be brought under control at home and abroad, the forecast envisions that Vietnam's services sector will gradually recover as . This is the highest growth rate among the top Due to the US-China trade war, the help of Vietnam's FTAs, analysts believe the industry will maintain high growth potential, with a forecast export turnover of US$200 billion until 2035. Growth will be led by exports, which rose by 19% in 2021 in US dollar terms. Vietnams exports hit a record high in March this year on the back of economic recovery from the COVID-19 pandemic and pent-up demand for manufactured goods. Its GDP grew at 4.48 percent year-on-year in the first . The coronavirus could cause Vietnam's GDP growth rate to drop by around 1% for the year, former Vietnamese government adviser Le Dang Doanh told Business Insider (BI). The electronics maker has also pumped USD 50 million into another electronics manufacturing facility in Vinh Phuc. Line Bar Map. See here for a complete list of exchanges and delays. Photo by Shutterstock/Hien Phung Thu. Moreover, every September should be the . Meanwhile, the imports growth would average 5-6% in 2021-2030, with around 7-8% in the 2021-2025 period, and 4-5% in 2026-2030. Vietnam Exports Drive Growth Vietnam's economy surged more than 7% in the third quarter according to data Friday, but officials warned the communist country may still fall short of its annual . However, Vietnam's export sector still outperforms the region, benefiting from cost competitiveness, trade diversion from China, and a series of key trade agreements. The industry leader for online information for tax, accounting and finance professionals. During the last five reported years the exports of Vietnam have changed by $132B from $169B in 2015 to $300B in 2020. Click on the button below to get started. Vietnam is officially targetting GDP growth of 6.0 . Taiwans Compal Electronics, which makes laptops for some of the worlds largest computer brands such as Dell, Google, and Amazon, has invested USD 500 million to build a factory to produce notebooks in Vinh Phuc Province. Vietnams economic growth in 2022 is expected to be at 7.9%. Through the first eight months of 2022, Japan's imports of Vietnamese shrimp were up 21 percent year-on-year to reach USD 463 million (EUR 468.9 million). In the timber industry, many companies have received bulk orders due to an early resumption of production operations, which will keep factories running at full capacity until Q3 or the end of 2022. Reuters, the news and media division of Thomson Reuters, is the worlds largest multimedia news provider, reaching billions of people worldwide every day. Apple warns of lower iPhone shipments as COVID curbs hobble China plant, China's trade unexpectedly shrinks as COVID curbs, global slowdown jolt demand, Oil stable near $100 a barrel as dollar weakens, Euro, sterling jump, dollar falters as market shifts to risk assets, India's October fuel demand rises 3.4% year-on-year, Ukraine set to finalise IMF agreements after Nov. 11-17 fund mission, CEO of China's Bilibili to manage gaming unit in bid to boost revenue, IMF reaches preliminary agreement with Georgia to release $30 mln, Most Gulf stocks end higher, Abu Dhabi hits record high, See here for a complete list of exchanges and delays. The temporary supply disruption in the third quarter of 2021 is unlikely to weaken Vietnam's attractiveness for export-related foreign investment. In 2020, registered FDI capital was $28.5 billion, down by 25 percent from 2019. GDP services export is in BoP, current US$ and services import is in Bop, current US$.Vietnam . My Cart In addition, the Government sets as a goal the contribution of the manufacturing and processing sector at 88% of total exports by 2025 and 90% by 2030, of which mid-tech products would account for 65% in 2025 and 70% in 2030. Vietnam aims for a healthy and sustainable trade partnership with all key partners. The strategy also stressed the necessity to reduce the countrys dependence on input materials from abroad, while moving away from producing items that may cause environmental pollution and are resource-intensive. The countrys manufacturing industry is making a speedy recovery on the back of strong order books, which are expected to keep production lines busy this year. The average daily trading value on Vietnams bourses reached VND 30.8 trillion (USD 1.3 billion) per session as of the end of April, up 15.9% year-on-year, according to the Ministry of Finance. Google+, Facebook A digital media company reporting on the most promising technology-driven businesses and trends in the world's emerging markets. According to data from the General Department of Vietnam Customs (GDVC), the countrys total value of imports and exports for March 2022 rose 38.1% from the previous month to USD 67.4 billion. Vietnam aims for a healthy and sustainable trade partnership with all key partners, it said. Industrial activity continued improving in April-May in annual terms. Online Store NEW DELHI: India sharply reduced its sugar export quota for 2022-2023, potentially worsening the global market outlook already strained by supply hiccups in top shipper Brazil . The corresponding visual shows Vietnam's top ten export categories in 2018, which may affect interest in study courses and post-study employment, given their importance to the country's economic growth. 1, Ho Chi Minh City, Vietnam. Vietnam has a young population, stable political system, commitment to sustainable growth, relatively low inflation, stable currency, strong FDI inflows, and strong manufacturing . Vietnam today is a major global exporter Image: WTO, Financial Times Economic growth followed suit. With such rapid economic growth, the country grew from one of the poorest countries in the world to a comfortably middle-income one. Start working with the reports used by the worlds major financial institutions, multinational enterprises & government agencies now. In contrast with a drop in U.S. exports, Vietnam's shrimp shipments to Japan skyrocketed 120 percent in August 2022, reaching USD 67 million (EUR 67.8 million) in value. LinkedIn HCM CITY HCM City's economy continued to recover this year, with its gross regional domestic product (GRDP) forecast to expand 9.4 per cent in 2022, surpassing its target of 6-6.5 per cent, according to the municipal People's Committee. Build the strongest argument relying on authoritative content, attorney-editor expertise, and industry defining technology. Access unmatched financial data, news and content in a highly-customised workflow experience on desktop, web and mobile. About By 2021, export turnover to this market has reached 96.29 billion USD, up 24.93% compared to 2020. This article was adapted based on a report posted by Maizi China on WeChat that has been taken offline. The most recent exports are led by Broadcasting Equipment ($42B), Telephones ($21.4B), Integrated Circuits ($19.4B), Textile Footwear ($8.9B), and Office Machine Parts ($7.68B). FDI in 2020 was $20 billion, down by 2 percent. Vietnams aggregated import and export value in Q1 2022 climbed 14.4% year-on-year to USD 176.4 billion, based on data from GDVC. In addition, the high cost of sea logistics is currently the biggest challenge for most manufacturing and exporting enterprises. Seven-month exports reached US$185.33 billion, a year-on-year increase of 25.5 percent, while imports surged 35.3 percent to US$188.03 billion. In 2021, the growth rate of worldwide exports in Vietnam was around 14.4 percent. Exports rose 10.3% this month from the same period a year ago, while imports climbed 6.4% Disbursed foreign direct investment was up 16.3% in the first nine months of this year to $15.43 billion. Since the 2000s, global electronics brands such as Samsung, Intel, and LG have made significant investments in manufacturing facilities in the country. Under the strategy, Vietnams exports are expected to expand by 8-9% in 2021-2025, and 5-6% in 2026-2030. In the first quarter of 2022, Vietnams exports increased by 13.4% from the previous year to hit USD 89.1 billion while imports reached USD 87.6 billion, up 15.2% year-on-year. Judging by its economic growth forecast, Vietnams ambitious economic development plan appears to be on track. Business Registration No. What factors will help Vietnams exports? Exports of goods and services (current US$) - Vietnam. Over this period, U.S. exports to Vietnam increased by over $4.4 billion, more than twice that of second place Ireland. The Ministry of Industry and Trade aims for over 8% of export growth and a trade surplus in 2022. India's fuel consumption, a proxy for oil demand, rose 3.4% year-on-year in October to 18.37 million tonnes, data from the Petroleum Planning and Analysis Cell (PPAC) of the oil ministry showed on Monday.
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