Vietnam’s Industrial Product Export Up in First 8 Months

Vietnam’s industrial product export up in first 8 months

HANOI, Aug. 30 (Xinhua) — Vietnam’s key industrial products for export, including crude oil, coal, footwear and rubber, saw remarkable growths in export earnings in the first eight months of this year, mainly due to higher world prices.

Compared with the same period last year, export revenues of crude oil, coal, footwear and rubber surged by 29.6 percent to nearly 4.6 billion US dollars, 91 percent to 414 million dollars, 10.5 percent to roughly 2 billion dollars, and 12.3 percent to 361 million dollars, respectively, according to the country’s General Statistics Office on Tuesday.

Vietnam shipped abroad, between January and August, over 11.5 million tons of crude oil, down 11.3 percent; 10.5 million tons of coal, up 39.6 percent; and 291,000 tons of rubber, up 5.6 percent.

It plans to exploit nearly 47.6 million tons of coal in 2010, and over 64.4 million tons of the mineral in 2020, to meet the increasing local and foreign demand.

With no oil refineries, Vietnam now has to export crude oil and import petroleum products. It imported 7.9 million tons of the products worth nearly 3.3 billion dollars in the first eight months, posting respective year-on-year increases of 6 and 43.9 percent.

Vietnam’s total export turnovers rose by 18.7 percent to nearly 20.4 billion dollars in the 8-month period, and its import revenues surged by 20 percent to roughly 24.2 billion dollars, the office said.