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Haiphong and Ho Chi Minh
are serviced by the East Asia Service offering sailings
every 15 days via Manila and Singapore respectively.
Direct port calls at Phu My are being scheduled
depending on breakbulk cargo requirements.
Economic Indicator
| Population |
81 million (March 2004) |
| GDP |
US$36 billion (2003) |
| GDP Growth Rate
|
7.3% (2003) |
| GDP Per Capita
|
US$483 (2003) |
| Inflation |
3% (2003) |
| Total Imports |
US$25 billion (2003) |
| Total Exports |
US$19.80 billion (2003) |
| Currency |
Dong |
| Exchange Rate |
NZ$1 = 6180 Dong (as at February
2001) |
| |
US$1 = 15003 Dong (2001f) |
Source: NZ Ministry of Foreign Affairs and Trade and various
Overview
Vietnam has been dominated or occupied by the Chinese,
French, Japanese or Americans for much of its history.
Constant struggle against foreign rule has had a
great impact on its national character and organisational
structures. Following the end of the war between
North and South Vietnam in 1975, the country was
unified under one government in the North.
Viet Nam's economic development in the 1990s, following the introduction in 1986 of the "doi moi" policy ('renovation' - the Vietnamese version of 'prerestroika') was nothing short of remarkable. In that decade the economy doubled and the incidence of poverty was halved. However, falling investor confidence in response to persistent poor governance, exacerbated by the 1997 Asian economic crisis, brought Viet Nam's potentially explosive economic growth into check. Since 2000, Viet Nam has been consolidating and rebuilding, assisted by the Government's carefully calibrated economic policy and a renewed effort to reform governance and liberalise and modernise the Vietnamese economy.
Today Viet Nam has one of the fastest growing economies in Asia. Despite global economic uncertainty in the wake of the Iraq war and the outbreak of SARS in the region, Viet Nam achieved an impressive real GDP growth rate of 7.3%* in 2003. GDP growth continues to be driven by domestic demand and a strong export performance. In 2003, export revenue increased by 19% against the previous year, largely due to rising oil and commodity prices and higher volumes of key exports. Representing 55% of GDP, international trade is increasingly an important part of the Vietnamese economy. Last year (2003) some traditional key agricultural exports (fruit, vegetables, tea, peanuts and pepper) shrank in revenue while other products (coffee, cashew nuts, rubber and rice) posted strong growth. Much of this product went into new, potentially large markets like Africa and Brazil.
New Zealand and Viet Nam signed a bilateral trade agreement in 1994, granting MFN status to goods traded between the two countries. New Zealand exports to Viet Nam for the year ending December 2003 totalled $157 million, compared with $129 million for the previous year.
The bulk of New Zealand's exports to Viet Nam are agriculture-related. Dairy products comprise 65% of total exports, worth $102 million in 2003, and the market outlook in this sector is very positive (25-30% growth in demand per annum). Wood products totalled $21 million (timber, wood pulp and paper). Sheepskins (mainly for futon mattress manufacture) accounted for $8.1 million. Other significant items included animal feeds, steel and machinery. Imports from Viet Nam in 2003 were stable at $70.2 million and comprised mainly garments, footwear, furniture, nuts, ceramic articles and coffee.
Source: NZ Ministry of Foreign Affairs and Trade
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Vietnam's
Top Ten Imports from New Zealand for the year 2004
(POB $NZ million)
| Dairy, eggs, honey, etc. |
79.68 |
| Wood |
24.50 |
| Woodpulp, etc. |
6.15 |
| Food waste, animal feed |
3.92 |
| Iron and steel |
3.54 |
| Other of animal origin |
3.21 |
| Baking related |
3.20 |
| Furskin + artificial fur |
2.97 |
| Hides and skins |
1.21 |
| Meat |
1.19 |
Source: World Trade Atlas
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Exports to New Zealand for the year 2004
(VFD $NZ million)
| Furniture and bedding |
23.62 |
| Machinery |
19.78 |
| Footwear |
10.21 |
| Edible fruit and nuts |
7.06 |
| Ceramic products |
4.59 |
| Leather art, saddlery, bags |
3.85 |
| Woven apparel |
2.89 |
| Spices, coffee and tea |
2.56 |
| Preserved food |
2.45 |
| Knit apparel |
2.35 |
Source: World Trade Atlas
The above information is an excerpt from the Trade
New Zealand Country Briefs. For a more comprehensive
account visit:
http://www.tradenz.govt.nz/CWS/page_Article/0,1300,1040,00.html
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