#STOCKPILE TURNOVER FREE#

Hanoi’s CPI growth in May expanded by 0.3% against the previous month and by 3.79% year-on-year. The inflation also expanded by 1.1%, which reflected the rising consumer demand for food and petrol products. Overall, Vietnam’s CPI during the five months rose by 2.25% year-on-year, according to the GSO, which, however, noted the growth remained lower compared to the average five-month increase during the 2017-2020 period. Higher fuel and petrol prices also led to rising prices of beverages, cigarettes, and other foodstuffs. Meanwhile, culture, tourism, and entertainment also rose by 0.74% as social-economic activities have now returned to normal. In May, fuel prices recorded two price hikes of 5.93% and 3.99% respectively, making the CPI of transportation goods the highest growth among commodity groups, by 2.34%. Rising prices of strategic commodities, such as fuels and food have resulted in an expansion of the consumer price index (CPI) of 0.38% in May against the previous month, and 2.86% compared to the same period of last year. “Vietnam’s network of trade representations in Europe would provide any support possible for local companies looking to shift their trading activities from Ukraine and Russia to other markets,” it noted.

#STOCKPILE TURNOVER FREE#

To facilitate exports in the coming time, the Ministry of Industry and Trade (MoIT) called for business associations and local traders to continue diversifying export markets by taking advantage of 15 free trade agreements that Vietnam is a part of. The US remained Vietnam’s largest export market with a turnover of $46.7 billion, while China claimed the top spot as the country’s main supplier selling goods worth $50 billion to Vietnam in the period. This resulted in a trade surplus of $516 million in five months, a stark contrast to a deficit of $1.24 billion in the same period last year. In return, Vietnam imported goods and products worth $152.3 billion in the January-May period, up 15% year-on-year, with the domestic-invested sector contributing $53.3 billion, and the foreign-invested sector $98.9 billion. In the five months, total exports rose by 16.3% year-on-year to $152.81 billion, of which the domestic-invested sector made up 26.3% of the total with $40.25 billion, and the foreign-invested sector with $112.56 billion, or 73.7%.Īn estimated 26 categories of export products posted a turnover of above $1 billion, or 89.6% of the export total, of which six are earning over $5 billion, or 62.3%. In May, the export turnover declined by 8.5% against the previous month to $30.5 billion, while imports grew by 16.4% to $32.19 billion. It is calculated using the below formula.Cargo handling at Haiphong Port. So, if you have 30 units leftover, you would multiply 30 by the cost of sourcing each unit.Īverage inventory, on the other hand, refers to the average value of your inventory within the same period (i.e., two or more accounting periods).

It does not include indirect costs like utilities, payroll, shipping fees, or sales and marketing.Įnding inventory is the monetary value of the inventory that hasn’t been sold during the given period. It includes material costs, labor charges, and other investments directly related to manufacturing or buying new products. Total purchases are all the costs associated with purchasing or producing your products, otherwise known as direct costs. This covers both finished goods, raw materials, works in progress, and suppliers related to your products. Beginning inventory is the monetary value of your inventory at the start of the accounting period that you’re measuring, which should be the same as the ending inventory of the previous period.

Stockpile turnover