VIETNAM'S EXPORTS OUTSTRIP IMPORTS FOR FIRST TIME IN YEARS.

HANOI, March 1 Asia Pulse - Viet Nam's exports in the first two months of the year outstripped imports, by US$9 million, for the first time in recent years.

Export earnings in January and February grew 11.7 per cent over the same period last year to US$2.211 billion, according to preliminary figures released by the General Statistics Office (GSO).

The figures show that Viet Nam earned US$1.120 billion in February alone, on the back of stronger seafood and electronics sales, and high prices fetched by the country's key foreign exchange earner, crude oil.

But even this performance remains well below the export revenue target set by the government of US$1.4 billion every month and an overall US$16.6 billion for the year.

The preliminary GSO figures show the foreign-invested sector outpaced others with year-on-year export growth of 14.3 per cent for January and February, while domestic enterprises recorded growth of 9.3 per cent.

However, exports of garments and textiles - a major cash-spinner for the country - fell 5.5 per cent last month to US$239 million. Footwear also fell 2.1 per cent to US$282 million.

The biggest single increase in export trade was in vegetables which rose a whopping 85 per cent, despite a modest export value of US$37 million. The disparity between volume and value arose because of low world prices.