Vietnam’s trade revenue estimated to exceed 336.2 billion USD in 8 months

August 31, 2020 | 08:00

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Vietnam's import-export turnover is estimated at 336.32 billion USD in the first eight months, an annual reduction of 0.3 percent, according to the General Statistics Office.

Hanoi – Vietnam's import-export turnover is estimated at 336.32 billion USD in the first eight months, an annual reduction of 0.3 percent, according to the General Statistics Office.

The domestic sector remained a bright spot with its export and import values reaching 60.8 billion USD and 72.05 billion USD, both recording on-year increases of 15.3 and 2.9 percent, respectively.

The eight-month export turnover was about 174.11 billion USD. There were 27 products reeling in over 1 billion USD each. They included phone and components (31.5 billion USD); electronic devices, computers and components (27.6 billion USD); and apparels (19.2 billion USD). However, most of agricultural products saw a reduction in their export revenue.

The US was the biggest importer of Vietnam, purchasing goods worth 46.7 billion USD, an annual growth of 19 percent. The market was followed by China (27 billion USD), the EU (22.9 billion USD), the Republic of Korea (RoK) (12.6 billion USD), and Japan (12.5 billion USD).

The country’s import in the period, meanwhile, was estimated at 162.21 billion USD, down 2.2 annually. Vietnam spent 151.6 billion USD and 10.55 billion USD on buying production materials and consumer goods overseas, down 1.7 percent and 9.2 percent on year, respectively.

China was the biggest exporter of Vietnam, with its turnover estimated at 49.3 billion USD, followed by the RoK (28.7 billion USD) and ASEAN member countries (19.4 billion USD).

VNA

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