Vietnam’s exports up 25.5 percent in seven months

VNA
Vietnam’s export earnings hit US$27 billion in July, down 0.8 percent month-on-month and up 8.4 percent year-on-year, reported the General Statistics Office (GSO) on July 29.
Vietnam’s exports up 25.5 percent in seven months ảnh 1 Aquatic products raked in US$4.92 billion. (Photo: SGGP)
On seven-month calculation, the figure reached $185.33 billion, marking a yearly rise of 25.5 percent. Of which, $48.52 billion was from domestic economic sector, up 14.6 percent and the remaining from foreign-invested sector, inclusive of crude oil, up 29.9 percent.

Twenty-seven goods groups earned over $1 billion from export, or 90.2 percent of the total. Five of them brought home more than $10 billion, equivalent to 57.8 percent.

Export of materials and mineral resources was estimated at $1.87 billion, up 1.4 percent annually while that of processed industrial goods was $164.89 billion, up 27 percent. Agro-forestry products raked in $13.65 billion and fisheries $4.92 billion, up 16.7 percent and 12 percent, respectively.

The US remained Vietnam’s largest importer with turnover hitting $53.6 billion, up 37.4 from the same period last year. It was followed by China $28.7 billion, up 24.2 percent and the European Union $22.5 billion, up 15.5 percent.

According to the GSO, imports in July was estimated at $28.7 billion, up 3.8 percent month on month and 29.9 percent year on year.

Seven-month imports rose by 35.3 annually to $188.03 billion, $66.31 billion of which were from domestic sector and the remaining from foreign-invested sector.

Over $1 billion were spent on 31 goods each, or 87.5 percent of the total imports.

China was the largest exporter of Vietnam with a value of $62.3 billion, up 48.5 percent annually. It was followed by the Republic of Korea $29.7 billion, up 19.9 percent; ASEAN $24.7 billion, up 48.2 percent; and Japan $12.6 billion, up 13.8 percent.

The country ran a deficit of $1.7 billion in July, bringing the figure in seven months to $2.7 billion.

To boost production and exports, the Ministry of Industry and Trade pledged to tap opportunities from free trade deals, step up export promotion activities post-pandemic, as well as continue developing energy, mechanical engineering industries.

VNA

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