Ho Chi Minh City bagged US$1.8 billion from exports in the first four months this year, up 6.2 per cent on-year, said the municipal People’s Committee.
The figure accounted for 12.39 per cent of the country’s total export revenue during the period.
Of the sum, the city’s exports in April stood at US$451 million, up 6.6 per cent on-year.
The above figure reflects slow export growth, said the committee, adding the city would focus on exporting staples of garment and textile, aquatic products, footwear and rice in May, in line with its export overall plan until 2010.
The committee, however, has not announced the city’s import spending during the time.
This year, Ho Chi Minh City aims to fetch US$15.7 billion from exports, an on-year increase of 14.9 per cent. (Vietnam Economic Times)
Vietnam Imports US$199Mln Timber in First Quarter (D:\Nam\Pictures\Furniture\ HOI_CHO_GO)
Vietnam has spent US$199 million importing timber to reprocess for exports in the first quarter 2007, up 56 per cent on year, according to the Ministry of Trade.
The country’s woodwork exports steadily grew by 20 per cent, boosting timber imports, the US’s Association of Hardwood Exporters said.
Vietnam earned around US$570 million from wood product exports in the first quarter of 2007, according to the General Statistics Office.
Vietnam is now the world’s leading hardwood and sawed timber importer and seen as a high potential wood import market, the association said.
Among nearly 30 wood exporters to Vietnam in the first quarter, Malaysia took the lead with total wood shipment valued at US$30 million, up by 7.6 per cent or from US$27.9 million on year. Vietnam mostly imported MDF plank, low quality wood, plywood and rubber wood from Malaysia.
The ministry said Malaysian wood import prices will continue rising because of high demand from Japan, China, India and Middle East.
Neighboring Laos ranked second, selling US$18 million worth of wood to Vietnam in the first quarter, a sharp on year rise of nearly 60 per cent.
Meanwhile, China, in the third position, exported US$18.52 million wood to Vietnam, up 102 per cent on year, including 61 per cent artificial wood.
The US exported US$16.88 million of wood to Vietnam in the quarter, mainly oak and poplar. It was the fourth biggest wood supplier to the country.
Vietnam’s wood export revenue may jump to US$2.2 billion in 2007, an on-year rise of 38.4 per cent, according to the Vietnam Forest and Wood Products Association’s development plans for 2006-2011.
By 2010, wood processors could see annual revenues of US$5.5 billion and Vietnam would surpass China in wooden furniture export to the US market later in the decade. The country is now the third largest woodwork exporter to Japan, following China and Thailand. (
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