Electric wire, cable export surges 33.7 percent in five months
Vietnam raked in over 903.8 million USD from exporting electric wires and cables in the first five months of 2020, up 33.7 percent year-on-year, according to statistics of the Ministry of Industry and Trade.
Hanoi (VNA) – Vietnam raked in over 903.8million USD from exporting electric wires andcables in the first five months of 2020, up 33.7 percent year-on-year,according to statistics of the Ministry of Industry and Trade.
China led more than 20 importers, spending nearly 261 million USD importing Vietnameseelectric wires and cables, 55.7 percent higher than that of the same periodlast year and accounting for 28.9 percent of Vietnam’s total export turnover. Itwas followed by the US and Japan.
Notably, high growth was seen in the export of the products to Hong Kong(China), Laos, and the UK with 78.9percent, 72.1 percent and 61.5 percent, respectively./.
Export of electric wire and cable earned Vietnam nearly 1.6 billion USD in the January-November period, up 24.7 percent compared to the same period last year, according to statistics of the Ministry of Industry and Trade.
Higher rice supply in the domestic market has made the export price of Vietnam’s broken rice drop to 450 USD per tonne on June 19, the lowest level in the past two months.
Ninety–one strikes occurred in Vietnam in the first five months of this year, mostly due to stagnant production – a major negative impact of the COVID-19 pandemic on enterprises and workers.
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According to UOB, following the US’s announcement of reciprocal tariffs of 46% on Vietnamese goods on April 2, around 80% of Vietnamese businesses have proactively taken measures to respond to potential impacts.
As one of the most prestigious annual international events in the industry, the expo serves as a prime platform for enterprises to connect, exchange valuable experience, and explore reliable collaboration opportunities with both domestic and international companies.
Organised by the Vietnamese Embassy and Trade Office, Vietnam's national booth showcases catalogues and product samples from over 30 Vietnamese companies, spanning key sectors such as agriculture, seafood, food and beverages, footwear, textiles, furniture, plastics, construction materials, and industrial machinery.
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As the most significant and high-profile event in the global logistics industry, FIATA World Congress 2025 is expected to gather over 1,200 delegates from more than 150 countries.
According to the State Bank of Vietnam (SBV), in the interbank market, the trend of decreasing overnight interest rates has continued, starting at 3.13% in the first session of last week and gradually decreasing over the sessions to 1.67% at the last session of the week. In total, overnight interest rates decreased by 1.46 percentage points within one week.
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Illustrative image (Photo: internet) 
