Vietnam And Australia Grew Steadily In The First Half Of The Year

According to customs statistics of < a href= "http:// www.sjfzxm.com/news/index_c.asp" > Vietnam < /a >, the bilateral trade volume between Vietnam and Australia in the first half of the year reached a record high of 2 billion 860 million US dollars and a trade surplus of 9.24 US dollars. < p >

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< p > Vietnam a href= "http:// www.sjfzxm.com/news/index_c.asp" > export < /a > total revenue amounted to US $1 billion 890 million, an increase of 24.3% over the same period last year, and imports amounted to US $971 million 560 thousand, an increase of 37.3% over the same period last year.

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< p > Vietnam's main export commodities include: crude oil, < a href= "http:// www.sjfzxm.com/news/index_c.asp" > clothing < /a >, spinning, shoes and bags products and machinery and equipment, etc. the volume of trade with Australia's luggage and bags has increased steadily.

The main imports are: textile raw materials, leather shoes, machinery and equipment, and chemical products.

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< p > China's manufacturing industry, known as "world factory", has been affected by multiple factors such as rising wage costs and RMB appreciation in recent years, resulting in the rising cost of enterprises and the trend of non-state manufacturing outflow.

China Nonferrous Metals network.

Southeast Asia is favored by investors with cheap labor costs.

China Nonferrous Metals network.

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< p > according to media reports, since 2008, Southeast Asia has diverted 30% orders from China, which has had an impact on 19 million footwear industry practitioners in China.

China Nonferrous Metals network.

CEIC global economic database shows that clothing and textiles account for 9% of Vietnam's manufacturing industry. Currently, Vietnam actively participates in the TPP negotiations led by the United States, and is affected by this policy. Foreign investment is actively flowing into Vietnam's garment industry.

China Nonferrous Metals network.

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< p > data also show that in the first quarter of this year, the US imports of tablet and notebook computers from China decreased by 14% compared with the same period last year, while the import volume from Vietnam increased by more than one million.

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< p > mobile phone giant Samsung set up a new factory in Vietnam last year. It is expected that Vietnam will produce more than 40% Samsung mobile phones by 2015. This figure is expected to reach 80% in the future.

China Nonferrous Metals network.

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< p > besides, low wage price is also one of the factors to enhance competitiveness in Southeast Asia.

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At present, the wages of workers in the eastern coastal areas of China are about 500 dollars, Indonesia is about 300 dollars, and Vietnam is about 250 dollars.

China Nonferrous Metals network.

The lowest monthly wage of the workers in the clothing industry in Kampuchea is only 80 dollars, while another major producer of clothing, Bangladesh, raised the minimum monthly wage to $67 at the end of 2013.

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