Vietnam’s trade revenue estimated to exceed US$336.2 billion in 8 months
Vietnam's import-export turnover is estimated at US$336.32 billion in the first eight months, an annual reduction of 0.3%, according to the General Statistics Office.
The domestic sector remained a bright spot with its export and import values reaching US$60.8 billion and US$72.05 billion, both recording on-year increases of 15.3% and 2.9%, respectively.
The eight-month export turnover was about US$174.11 billion. There were 27 products reeling in over US$1 billion each. They included phone and components (US$31.5 billion); electronic devices, computers and components (US$27.6 billion); and apparels (US$19.2 billion). However, most of agricultural products saw a reduction in their export revenue.
The US was the biggest importer of Vietnam, purchasing goods worth US$46.7 billion, an annual growth of 19%. The market was followed by China (US$27 billion), the EU (US$22.9 billion), the Republic of Korea (RoK) (US$12.6 billion), and Japan (US$12.5 billion).
The country’s import in the period, meanwhile, was estimated at US$162.21 billion, down 2.2% annually. Vietnam spent US$151.6 billion and US$10.55 billion on buying production materials and consumer goods overseas, down 1.7% and 9.2% on year, respectively.
China was the biggest exporter of Vietnam, with its turnover estimated at US$49.3 billion, followed by the RoK (US$28.7 billion) and ASEAN member countries (US$19.4 billion).