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Recently, the Ministry of Industry and Trade of Vietnam revealed that in the first half of September 2009, Vietnam’s wire and cable exports amounted to 17.53 million US dollars, an increase of 14.7%. Therefore, as of September 15, 2009, the country’s exports of this commodity amounted to US$260 million. In August, the export value of wire and cable reached US$81.93 million, an increase of 17.3% from the previous month and a slight increase of 3.3% from the same period last year. Japan, the United States and Hong Kong continue to be Vietnam's largest wire and cable export market. In addition, exports to South Korea and Indonesia have also increased significantly.
With the advancement of the times, the wires used for automobiles continued to lead, with an export value of US$62 million, an increase of 22.7% from the previous month; the export of optical cables also increased significantly, reaching US$420,000, an increase of 101% from the previous month. At the same time, the export of plastic-clad cable continued to decline, amounting to only 2.84 million US dollars, down 6.4% from the previous month. In addition, the insulating varnish wire has also dropped by 15.5%, with an amount of only $1.46 million. Wire and cable exports to South Korea amounted to 1.98 million US dollars, an increase of 202% from the previous month. The main products exported to South Korea were plastic cable and HD wire, and the export value was 1.23 million US dollars and 230,000 US dollars. Exports to Cambodia also increased significantly, reaching 1.38 million US dollars, an increase of 227% from the previous month. At the same time, wire and cable exports also increased significantly, amounting to 890,000 US dollars and 360,000 US dollars. The largest growth market in August was India, with a value of US$270,000, an increase of 756% from the previous month. It is worth mentioning that the only product exported to India is copper conductive plates. The amount of wire and cable exported to Japan continued to lead, reaching US$58.29 million, a year-on-year increase of 17.5% and a year-on-year increase of 6.6%. The main products exported to Japan are electric wires for automobiles, accounting for 87.8% of the total. Exports to the United States also increased significantly, reaching $9.72 million, an increase of 37.6% from the previous month and a year-on-year increase of 6.9%.
In fact, as early as December 26, 2007, the Ministry of Industry and Commerce of Vietnam issued a message saying that the total wire and cable exports for the year reached 850 million US dollars, an increase of 20.6%. In 2008, Vietnam’s wire and cable exports are expected to reach US$1.3 billion, an increase of 53% over 2007. Vietnam's wire and cable exports increased by 24.5% year-on-year in the first eight months of 2009.
Although the world's demand for wire and cable products is only 3% per year, Vietnam's exports account for a small proportion, so this has little impact on Vietnam's wire and cable export prospects, and Vietnam's wire and cable products are on the international market. Competitiveness has been affirmed. At present, domestic and foreign companies are increasingly investing in wire and cable production, so the export growth capacity of such products is also very large.
The main markets for wire and cable exports in Vietnam include Japan (90%), South Korea, Australia, Hong Kong and Southeast Asian countries. In addition, the United States, Germany, China, Mexico and France are also potential markets for Vietnamese exports.