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Submitted by ctv_en_6 on Wed, 04/28/2010 - 10:37
Exports in April rose by 2 percent over March to stand at US$5.7 billion, bringing the nation’s four-month export value to US$20.1 billion, a year-on-year increase of 8.9 percent.

The slight rise was attributed to increasing demand for imports from many markets around the world amidst the post-crisis recovery.

Apparel products continued to top export lines in the first four months, raking in over US$3 billion, representing a 19 percent year-on-year rise.

Next came seafood, which earned over US$1.27 billion, a 20 percent increase compared with the same period last year.

Export rises were seen in electronics and computer parts (39 percent), wood and wooden furniture (31.6 percent), cashew nuts (18.8 percent), and footwear (nearly 6 percent). 

Despite upbeat signs for exports, economists remained worried about the trade deficit, which hit US$4.65 billion for the first four months, or 23 percent of the total export value.

Earlier this year, the National Assembly had set a target of keeping trade deficit below 20 percent.

The Ministry of Industry and Trade blamed the widening deficit on the import of a large volume of raw materials and equipment for production by many domestic businesses involved in key export lines.

The Ministry has requested these businesses promptly deploy measures to halt their imports while boosting trade promotions and exports to key markets.

It will support enterprises in gaining access to various markets in line with regional agreements on free trade zones.

The Ministry pledged to continue to reform import-export procedures, shorten the time required for customs clearance for businesses, and simplify tax refund procedures to help narrow the trade deficit.

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