Vietnam – U.S. Trade Status and Outlook, 2011 – 2020e (Jun 26, 2012)

VN-US Trade 2000-2020e (rev. Jun 26, 2012)

HCM City, Jun 26, 2012. Despite the difficult domestic and international economic environment, Vietnam – U.S. trade in 2011 continued its steady increase, up almost 20% over 2010. Based on four months trade data from the U.S. Department of Commerce, bilateral trade may increase by about 10% in 2012.

Total bilateral trade in 2011 was about US$ 21.8 billion, with Vietnam’s exports to the U.S. about $ 17.5 billion (up 18%), and imports from the U.S. about $ 4.3 billion (up 17%), demonstrating once again that manufacturing foreign direct investment (FDI) and trade are strong and stable factors that support Vietnam’s economic and social development.

Total Vietnam – U.S. trade in 2012 may reach about US$ 24.0 billion, with Vietnam’s exports to the U.S. about $ 19.3 billion (up 10%), and imports from the U.S. about $ 4.7 billion (up 9%). This estimate is based on four months data from the U.S. Department of Commerce (see source below).

Growth of Vietnam’s apparel exports to the U.S. is likely to slow because of increasing costs, increased competition from countries such as India, Indonesia, Mexico, and Bangladesh, not to mention Cambodia and Myanmar, and reduced demand in the United States. The hope is that exports of “modern manufacturing” and services will take up the slack.

If present trends continue, Vietnam – U.S. trade in 2020 may reach about US$ 45 billion a year, Vietnam’s exports to the U.S. about US$ 36.4 billion, and U.S. exports to Vietnam about US$ 8.6 billion.

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Vietnam – U.S. Trade before BTA, 1996-2000.

Vietnam – U.S. Trade Status and Outlook 2011 – 2020e (Jan 24, 2012)

Source of data

US Department of Commerce Trade Data
US Department of Commerce Apparel Imports Date
Vietnam Trade Data: General Statistics Office of Vietnam

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More Vietnamese millionaires, but income gap widens

Jun 26, 2012. The number of U.S. dollar millionaires in Vietnam as bright spots in the economy in last year’s first half increased by 33% from the previous year’s same period, but the dark side is that the rich-poor gap remains wide, according to the Central Institute for Economic Management (CIEM).

In a report on income gap reduction, CIEM cited results of a survey conducted by the wealth management firm Merrill Lynch Global Wealth Management and the consulting firm Capgemini on U.S. dollar millionaires in Asia in the first half of last year.

According to official statistics of the Vietnam Stock Exchange, the number of U.S. dollar millionaire in Vietnam amounted to nearly 170 last year, with 100 richest people on the stock exchange holding assets worth over US$ 2 million each and two people meeting requirements of the US$ 100-million club.

However, CIEM also cited a report of the Ministry of Labor, War Invalids and Social Affairs issued last year, saying that the number of poor households nationwide was one million, up 50% under the new poverty standards and accounting for 20% of the population.

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Prospects for the textiles and clothing industry in Indonesia

The textile and clothing industry occupies an important role in the Indonesian economy and is the country’s second largest source of foreign earnings.

Indonesia also has a huge and expanding domestic market for textiles and clothing, thanks to rising prosperity and a spread of wealth. This has helped the sector to avoid the worst effects of the recent global recession, but it also provides a tempting target for foreign suppliers and illegal imports.

Looking ahead, there are ambitious plans for further expansion, and foreign investment is being strongly encouraged by the Indonesian government.

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Business optimism in Vietnam drops from 80% in Q1 2011 to 34% in Q4

Business optimism in Vietnam has fallen from 80 per cent in the first quarter of 2011 to 34 per cent in the final quarter of 2011, according to Grant Thornton’s International Business Report (IBR).

It provides insight into the views and expectations of over 11,500 businesses per year across 40 economies.

Grant Thornton Vietnam’s managing partner Ken Atkinson said: “Business optimism and confidence have dropped considerably in the last 12 months as 2011 was the most difficult year for Vietnam since the global financial crisis and the economy is still facing many difficulties.”

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Sa, Sep 17 Internat’l Coastal Cleanup Day in Vietnam

Event Description

Join 10 AmCham companies and 600+ volunteers, and the global movement that is giving back to our ocean, by spending just one day cleaning up trash from our world’s waterways and oceans.

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Vietnam Solid Waste Market Analysis

Vietnam is currently one of the fastest growing and untapped solid waste management markets in the Asia-Pacific region. According to our new research report, “Vietnam Solid Waste Market Analysis”, the business and social environment in Vietnam has become favorable for foreign investors owing to the WTO accession and relaxed regulatory policies, which in turn will promote fast industrialization and urbanization.

Urban population has increased tremendously during the past few years and the share of urban population was 28.3% in 2009 which further increased in 2010. Rising urban population has infused municipal solid waste generation growth to reach new height.

Among the industrial sectors, such as food and beverages, wearing apparel, tanning and dressing of leather, wood and products of wood, fabricated metal products that are the backbone of Vietnam’s industrial sector, industrial solid waste is growing at a fast pace in the country. Amid the fast developments in industrial production, the industrial solid waste generation reached an estimated 5.7 Million Tons in 2010. It is anticipated that the industrial solid waste management market will continue to post phenomenal growth at a CAGR of around 19% during 2011-2015.

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Inflation forces workers to find part-time jobs

HA NOI, Jun 22, 2011. Many workers in industrial zones and export processing zones have been forced to work overtime to confront soaring prices on everyday necessities.

According to a recent report issued by the Ministry of Planning and Investment about the lives of poor people and workers, about 1.6 million people in 260 industrial zones and 15 economic zones were facing numerous difficulties because their salaries were not high enough to meet their basic needs.

The report also showed that the average salary for industrial zone workers was close to VND2 million ($ 100) a month, about 68 per cent of the national average.

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