Fertiliser exports soar 682% in January
The value of Vietnam’s fertiliser products shipped overseas skyrocketed by 682% in the first month of 2022 against the same period last year, according to the General Department of Vietnam Customs.
Meanwhile, the country spent US$153.6 million on importing over 322,000 tonnes of fertilisers in January, representing annual increases of 81.7% and 0.2%, respectively.
Vietnam mainly bought fertilisers from China, with 137,430 tonnes worth US$57.6 million during the month, accounting for 42.6% and 37.5% of the country's total import volume and turnover. Compared to December 2021, the volume decreased by 18% and the turnover was down 12.7%.
In the past time, the high price of and a sudden increase in demand for fertiliser products helped many enterprises in the sector report big profits last year. Southern Fertilizer JSC and PetroVietnam Fertilizer and Chemicals Corporation JSC saw their 2021 profits grew by 12 times and 324% compared to 2020, respectively.
Also in January, Vietnam reported seven groups of products with export values surpassing US$1 billion, accounting for 63.3% of the nation’s total export turnover. They included phones and components (US$4 billion), computers, electronic products and components (US$3.5 billion), and garments-textiles (US$3.3 billion).