Foreign-invested sector export turnover soars

Foreign-invested enterprises saw a soar in export turnover

Vietnam’s total import-export turnover in April was estimated at $94.32 billion, up 0.8 per cent from the previous month and 26.7 per cent on-year, according to a report released on May 3 by the National Statistics Office.

For the January-April period, total trade turnover reached an estimated $344.17 billion, rising 24.2 per cent from the same period last year. Of the figure, exports increased 19.7 per cent while imports surged 28.7 per cent.

Export turnover in April was estimated at $45.52 billion, down 2 per cent on-month. The domestic economic sector contributed $8.88 billion, down 1.2 per cent, while the foreign-invested sector, including crude oil, generated $36.64 billion, down 2.1 per cent.

Compared to April last year, however, exports rose 21 per cent. The domestic sector declined 4.2 per cent, while foreign-invested enterprises posted a sharp increase of 29.2 per cent.

In the first four months, export revenue was estimated at $168.53 billion, of which the domestic sector earned $33.65 billion, up 0.4 per cent, accounting for 20 per cent of total exports. The foreign-invested sector brought in $134.88 billion, up 25.8 per cent, accounting for 80 per cent.

Twenty-four exports posted turnover of more than $1 billion, accounting for 89.1 per cent of total export value. Among them, seven items exceeded $5 billion each, making up 69.1 per cent.

Processed industrial goods remained the largest export category, generating $151.5 billion and accounting for 89.9 per cent of total exports. Agricultural and forestry products reached $12.68 billion, seafood $3.55 billion, and fuels and minerals $800 million.

Meanwhile, imports in April were estimated at $48.8 billion, up 3.6 per cent from March and 32.5 per cent on-year. The domestic sector imported goods worth $13.8 billion, while the foreign-invested sector $35 billion.

During the first four months, import turnover reached $175.64 billion. Of the total, the domestic sector imported $49.27 billion, up 20.4 per cent, while the foreign-invested sector $126.37 billion, up 32.3 per cent.

China remained Vietnam’s largest import market, with turnover estimated at $69 billion. The country’s trade deficit in April alone was estimated at $3.28 billion. In the first four months, the domestic sector posted a deficit of $15.61 billion, while the foreign-invested sector recorded a surplus of $8.5 billion.

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