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Submitted by ctv_en_5 on Mon, 05/29/2006 - 11:00
In the past five months of the year, Vietnam’s export turnover increased by 24.3 percent against the same period last year, up 1.48 times compared to the set target and up 3.3 times against the import growth rate. Meanwhile, the import surplus decreased by one-third of the figure of the same period last year.

According to the General Statistics Office, all production indicators have surged in the first five months with some posting higher growth rates than the whole year’s set plan.

 

Industrial production posted high growth rates with the non-State sector reaching 20.5 percent, and foreign-invested sector 23.7 percent.

 

Products registering substantial increases included coal, silk, knitwear, ready-made clothes, and rolled steel.

 

Foreign direct investment capital also increased in terms of registered capital and disbursed capital. Registered capital reached US$2.015 billion, up 19.5 percent, and supplemented capital US$394 million, bringing the total registered capital to US$2.409 billion. Disbursed capital reached a record figure of US$1.49 billion, up 21 percent. Product consumption including consumption for local use and export continued to rise. Local consumption is estimated to have increased by 1.5 times against the economic growth rate.

 

Export turnover increased by 18.2 percent and 29 percent in the domestic and foreign-invested sectors, respectively. As many as 19 out of 25 key export items achieved high export growth. Over the past five months, 16 export items reached an export turnover of more than US$100 million, including five items fetching over US$500 million. In particular, crude oil, garment and textile, footwear and seafood surpassed the US$1-billion mark. Furthermore, import excess decreased in comparison to the same period last year in terms of absolute turnover and import surplus rate.

 

The positive results became more significant in the past five months as Vietnam faced many difficulties caused by drought, bird flu, foot-and-mouth disease, Typhoon Chanchu and soaring oil prices. In addition, there remained some shortcomings in economic development. In the reviewed period, the State-owned industrial sector had a slow start with some key products increasing slightly, or even decreasing. Investment in the domestic market was low and the prices of the many goods increased rapidly. The number of foreign tourists visiting the country was also not high enough.

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