FOREIGN TRADE REMAINS BRIGHT SPOT IN VIETNAM’S ECONOMY

Vietnam's trade with the rest of the world hit US$762.44 billion in the first ten months of this year, a year-on-year increase of 17.4 percent, according to the National Statistics Office.

During January-October, total export turnover reached US$391 billion, a year-on-year increase of 16.2 percent. Of the figure, the domestic economic sector accounted for US$94.17 billion, representing 24.1 percent, while the foreign-invested sector (including crude oil) reached US$296.83 billion, accounting for 75.9 percent.

In the reviewed period, there were 36 export items with a turnover exceeding US$1 billion each, collectively accounting for 94.1 percent of the total export value.

Regarding the export structure, the export value of manufactured and processed goods reached US$346.73 billion, accounting for 88.7 percent, followed by agricultural and forestry products (US$32.62 billion, accounting for 8.3 percent), aquatic products (US$9.33 billion, accounting for 2.4 percent), and fuel and mineral products (US$2.32 billion, accounting for 0.6 percent).

Meanwhile, the country spent nearly US$371.44 billion on imports over the last 10 months, up 18.6 percent year-on-year. The domestic sector accounted for US$117 billion (up 2.8 percent), while the foreign-invested sector contributed US$254.44 billion (up 27.6 percent).

In the January-October period, Viet Nam enjoyed a trade surplus of US$19.56 billion.

The U.S. remained the biggest importer of Vietnamese goods with US$126.2 billion while China was the largest supplier with US$150.9 billion.

Source: VCCI

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