Imports Of Vietnamese Cotton And Fiber Fell In The First 5 Months

Vietnam's total exports amounted to $42 billion 860 million in the first 5 months of this year (2012), up 24.1% from the same period last year, with a total import value of US $43 billion 480 million, an increase of 6.6% compared with the same period last year and a trade deficit of 622 million US dollars.

Director of trade of the General Administration of Statistics

(Le Minh Thuy) believes that in order to help domestic operators increase their capacity, the government should reduce lending rates, slow down the cost pressures of the operators, and strive to control inflation.

In the first 5 months of this year, the amount of imports grew only marginally.

Price changes, and domestic production is not strong, and the quantity and amount of raw materials imports have declined. Among them, the import of machine and auto parts dropped by 37.8%.

-33.8%, fiber -14.2%, fertilizer -13.3%, gasoline and other oil products also decreased by 13.3% and 23.2% respectively, and the amount and amount of gas imports also declined by 17% and 27.6% respectively.

Although the prices of imported raw materials are likely to decline, the import of electronic and computer components products will continue to grow. The import amount of such products will amount to about US $4 billion 540 million, and the estimated export revenue will be US $6 billion 410 million. The export volume of telephone products will be estimated to be US $3 billion 670 million, which will become the main export item after the first largest export product item.