On the afternoon of February 1, the office of the MoIT announced the report on industrial production and trade of the country in January this year.
Accordingly, Vietnam's total merchandise import and export turnover in the first month of this year is estimated at $54.1 billion, up 45.7 percent over the same period last year.
Specifically, the export turnover hit $27.7 billion, up 50.5 percent, while import turnover touched $26.4 billion, up 41 percent.
Therefore, the merchandise trade balance in January is estimated to have a trade surplus of $1.3 billion.
In January, there were six items with an export turnover of over $1 billion, accounting for 67.3 percent of the total exports. Of which, mobile phones and components saw the highest export value at $5.8 billion, accounting for 20.9 percent of total exports, up 114.8 percent year-on-year.
"Export turnover of this item increased sharply as Samsung launched a new trio of Samsung Galaxy S21, Samsung Galaxy S21 Plus, and Samsung Galaxy S21 Ultra. They are considered high-end Android mobile phones that open the technology sector in the new year", the MoIT reports.
The US is Vietnam's largest export market, with a turnover of $7.5 billion, an increase of 57.4 percent year-on-year, followed by China, the EU, the ASEAN, Japan, and South Korea.
In January, China was still the largest import market of Vietnam, with a turnover of $9.6 billion, up 72.7 percent over the same period last year.