foreign trade nov 2001

revue de presse saigon times weekly

Flat Performance
Foreign trade in November remained flat. Trade deficit in the first 11 months was around US$707 million
By Dang Thinh
According to the Ministry of Trade, import-export in November was lackluster. Export sales in the past 11 months rose only 4.9% year-on-year due to a drastic drop in oil prices. In particular, export by the foreign investment sector posted almost no increase over the same period in 2000.
November export sales were estimated at US$1,180 million, up 3.8% from October. Sales of coffee, crude oil, footwear, garments and textiles increased slightly. Overall, the figure for the first 11 months of the year is estimated at US$13,820 million, or 82.5% of the year's target and up only 4.9% over the same period last year. Foreign-invested companies made up for US$6,251 million, the same as the figure for last year's corresponding period. Local businesses earned US$7,569 million, up 9.2% year-on-year.
The figures show that export growth has slowed, from 13% in the first seven months of the year to 8.8% in the first nine months and nearly 5% in the first 11 months. The global economic slowdown in the early months of the year, especially the recession in the U.S., slumped exports from many countries. Vietnam is no exception although export slowdown is less severe than other countries.
Meanwhile, import in November was US$1,380 million or 91.3% of October's figure, raising the figure for the first 11 months to US$14,527 million, a 3.4% increase over the same period last year.
Fourteen out of sixteen key import commodities in the first 11 months posted a strong increase compared with the same period last year. Some commodities with an increase of over 40% were motorcycles, auto parts, cars and cotton.
Trade deficit rose slightly in October and November due to export slowdown. However, the figure for the first 11 months was around US$707 million, equal to only 5.1% of export turnover.

Import-Export in November and first 11 months of 2001
Unit November First 11 months Against the Against 11
year's target months of 2000
Quantity Value Quantity Value Quantity Value Quantity Value
Total export value US$mil. 1,180 13,820 82.5 104.9
Foreign-invested enterprises 500 6,251 84.5 100.0
Major export items
1 Seafood US$mil. 165 1,677 95.8 125.2
2 Rice 1,000 tons 150 26.2 3,475 571 86.9 79.3 108.2 92.7
3 Coffee 1,000 tons 60 20.5 812 353 108.2 70.6 132.2 78.6
4 Vegetable & fruit US$mil. 16 276 92.0 147.6
5 Rubber 1,000 tons 35 17 269 145 89.8 74.4 109.9 97.0
6 Pepper 1,000 tons 1.0 1.5 55 89 138.5 74.2 152.2 61.5
7 Cashew nut 1,000 tons 4 12 37 131 105.4 76.9 119.6 84.8
8 Tea 1,000 tons 9 10 52 59 93.2 88.4 108.1 100.9
9 Peanut 1,000 tons 5 2.5 79 39 87.7 77.2 106.3 97.0
10 Crude oil 1,000 tons 1,420 195 15,597 2,969 97.5 92.8 110.6 91.7
11 Coal 1,000 tons 250 7 3,716 101 116.1 111.8 135.9 124.6
12 Garment & textile US$mil. 155 1,823 82.9 105.8
13 Footwear US$mil. 130 1,346 79.2 102.2
14 Electronics &
computer part US$mil. 45 556 55.6 76.8
15 Handicraft US$mil. 20 208 63.0 95.9
Total import value US$mil. 1,380 14,527 81.6 103.4
Foreign-invested enterprises 400 4,331 84.9 109.8
Major import items
1 Car Unit 2,200 18 25,771 181 171.8 134.1 187.2 157.5
2 Incomplete car set 2,200 24 18,646 198 149.2 176.7 196.6 235.9
3 Steel 1,000 tons 170 50 2,002 580 125.1 113.2 130.3 108.8
4 Steel billet 1,000 tons 110 20 1,435 271 114.8 108.6 133.5 131.8
5 Fertilizer 1,000 tons 300 37 2,603 328 65.1 64.9 71.1 70.3
- Urea fertilizer 1,000 tons 170 20 1,375 167 62.5 58.4 71.2 70.8
6 Petrol & oil 1,000 tons 750 147 8,274 1,732 85.3 79.4 103.6 92.5
7 Motorcycle 1,000 units 100 24 1,940 537 215.6 138.7 140.5 85.3
8 Paper 1,000 tons 25 12 251 136 100.4 92.2 113.1 103.7
9 Plastic material 1,000 tons 70 45 671 450 103.2 96.1 112.8 102.0
10 Yarn 1,000 tons 20 23 188 222 85.5 77.7 117.5 105.9
11 Cotton 1,000 tons 10 11 106 125 106.0 104.2 140.0 135.9
12 Chemicals US$mil. 30 303 94.7 108.2
13 Machinery,
equipment and part US$mil. 260 2,519 84.0 107.1
14 Pharmaceuticals US$mil. 30 271 84.7 100.1
15 Electronic component US$mil. 60 611 71.8 77.9
16 Garment &
textile material US$mil. 130 1,446 72.3 120.1
Source: Ministry of Trade