Export turnover goes up by 14.2 percent in ten months

Update: 14:46 | 02/11/2018
Vietnam’s export turnover hit 200.27 billion USD in the first 10 months of 2018, up 14.2 percent against the same period last year, according to the General Statistics Office (GSO). 
TIN LIÊN QUAN
export turnover goes up by 142 percent in ten months Vietnam seeks ways to increase exports to ASEAN
export turnover goes up by 142 percent in ten months Vietnam earns 3.2 billion USD from auto accessories exports

Export revenue of the domestic economic sector rose 16.8 percent, reaching 56.82 billion USD, while that of the foreign direct investment (FDI) sector expanded 13.2 percent to 143.45 billion USD, up 13.2 percent, accounting for 71.6 percent of total turnover. 

export turnover goes up by 142 percent in ten months
Illustrative image. (Photo: http://tapchitaichinh.vn)

Many key exports gained high growth, with mobile phones and spare parts reaching 40.7 billion USD, garments and textiles 25.2 billion USD and computer and electronic spare parts 24.3 billion USD, year-on-year rises of 10.6 percent, 17.1 percent and 15.2 percent, respectively. 

Growth was also seen in the earnings from farming products, including fruits and vegetables (up 14.4 percent to 3.3 billion USD), coffee (1.1 percent to 3 billion USD) and rice (up 16.1 percent to 2.6 billion USD).

However, crude oil exports in the period fell in both value and volume compared to the same period last year, reaching only 1.8 billion USD, down 24.8 percent in value and 45.4 percent in volume. 

The US remained the largest importer of Vietnamese good in the period. Vietnam’s exports to this market totaled 39 billion USD, a 12.8 percent year-on-year rise. 

It was followed by the EU, China, ASEAN, Japan and the Republic of Korea, with respective revenues of 34.9 billion USD, 32.1 billion USD, 20.6 billion USD, 15.3 billion USD and 15 billion USD. 

Meanwhile, the country’s import value rose 11.8 percent year-on-year to 193.84 billion USD. Of which, the domestic sector accounted for 77.5 billion USD, up 12 percent while the FDI sector spent 116.34 billion USD, up 11.7 percent.

Vietnam’s trade surplus in the first 10 months stood at 6.4 billion USD. 

The GSO warned that the trade war between the US and China could affect the country’s import and export activities, so measures are needed to minimise these impacts.

export turnover goes up by 142 percent in ten months Demand for Vietnamese seafood on the rise

The domestic fishing industry should promote production of tra fish and shrimp by the end of this year to take advantage of the export potential ...

export turnover goes up by 142 percent in ten months Firms aim to boost official farm exports to China

Many Vietnamese firms want to boost exports of agricultural products to China via official channels to gain higher value and avoid risks from unofficial cross-border ...

export turnover goes up by 142 percent in ten months Vietnam, Japan target 60 billion USD in two-way trade by 2020

Prime Minister Nguyen Xuan Phuc is leading a high-level delegation of Vietnam to attend the 10th Mekong-Japan Summit in Tokyo and visit Japan from October ...

(Source: VNA)