Trade turnover of foreign-invested enterprises maintain growth momentum

October 28, 2022 | 19:46

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Foreign-invested enterprises (FIEs) acquired $407.21 billion in import-export turnover in the first ten months of 2022, up 14.9 per cent (or $52.92 billion) on year, according to statistics published by the General Statistics Office of Vietnam.

Trade turnover of foreign-invested enterprises maintain growth momentum

Meanwhile, the trade turnover of domestic businesses in the first ten months was $178.23 billion, up 13.4 per cent on-year.

FIEs’ total export value was estimated at $218.7 billion, up 17.5 per cent on year. The figure accounts for 73.8 per cent of the entire nation’s total export revenue. The trade surplus of FIEs from January to October was $30.2 billion.

The trade surplus of FIEs from January to October was $30.2 billion.

FIEs’ key export products are phones, computers, electronic products, and spare parts. Notably, the export value of phones and computers of this group accounts for 99.7 per cent of the total export value of these products. Besides this, the export value of electronic products and spare parts makes up 98.32 per cent.

Regarding the import side, FIEs' import value of goods throughout the reviewed period expanded to $188.5 billion, up 12 per cent compared to last year’s corresponding period, accounting for 65.2 per cent of the nation’s total import turnover.

In the first ten months, the country’s total import value hiked by 12.7 per cent on year. Some commodity groups saw a sharp rise, including computers, electronic products and components with an increase of 7.8 per cent, petrol and oil (130.3 per cent), and coal with an increase of 82.2 per cent on-year.

The major importers of computers, phones, and components include the United States, the EU, China, and South Korea.

Nine items reached export turnover of over 1 billion USD in first 2 months

In Jan-February, there were nine export commodities recording turnover of at least 1 billion USD, accounting for 71.6 percent of the total export value.

Coffee export turnover exceeds 2 billion USD in five months

Vietnam shipped 889,000 tonnes of coffee overseas for more than 2 billion USD in the first five months of 2022, up 24.2 and 54 percent year on year, respectively.

Seafood export turnover expected to surpass $10 billion

Based on the positive results in the first five months, seafood export turnover is expected to surpass $10 billion this year for the first time.

Five-month fruit and vegetable export turnover reaches 1.4 billion USD

Vietnam’s fruit and vegetable export turnover hit 1.4 billion USD in the first five months of this year, down 17 percent compared to the same period last year, according to the Ministry of Agriculture and Rural Development (MARD).