Top Biz News

Vietnam to export more rubber, coal

(Xinhua)
Updated: 2006-04-11 15:17

Vietnamese exports of rubber and coal to China are predicted to rise by 15.6 percent and 21.6 percent respectively this year, according to local newspaper Vietnam Economic Times newspaper on Tuesday.

Vietnam is likely to reap US$600 million and US$450 million from exporting rubber and coal, respectively, to China in 2006, the newspaper quoted the prediction of the Vietnamese Trade Ministry.

This year, Vietnam is forecast to export US$1.15 billion worth of crude oil to China, down 0.86 percent against last year.

According to Vietnamese trade experts, the two-way trade between Vietnam and China will surpass US$10 billion in 2006, up from over US$8 billion in 2005. Now, over half of Vietnam' s export turnovers to China come from crude oil, coal and rubber.

Vietnam shipped abroad, mainly to China, Singapore, Japan, England and the United States, 4.19 million tons of crude oil worth US$1.99 billion in the first quarter of this year, down 10.4 percent in volume but up 16.1 percent in value against the same period last year, according to the country's General Statistics Office.

Between January and March, Vietnam sold 5.72 million tons of coal totaling US$169 million, and 162,000 tons of rubber valued at US$261 million in the world market.