VINACHEM

Vietnam’s total imports and exports have reached nearly US$440 billion so far this year, up by 17.1% over the same period last year, according to the General Statistics Office.

The country has had a trade surplus of around US$14 billion. Domestic businesses have caused a trade deficit of US$15 billion, while the foreign-invested sector has brought a trade surplus of US$29 billion.

Export revenues have amounted to US$227 billion, a 15.7% year-on-year increase. Domestic companies have contributed around US$63 billion to the total, while foreign-invested businesses have accounted for US$164 billion.

Notably, 30 export items each have surpassed US$1 billion in value, with processed industrial goods taking the lead at US$200 billion, making up 88.1% of total exports. The manufacturing sector follows with US$19.3 billion, seafood at US$5.3 billion, and fuel and minerals at US$2.5 billion.

Imports have expanded by 18.5% over the same period last year to nearly US$213 billion. Domestic businesses have posted imports totaling US$78 billion, while the foreign-invested sector’s imports have amounted to US$135 billion. The primary imports include production materials, valued at nearly US$200 billion, along with machinery, equipment, raw materials, and consumer goods.

The U.S. has remained Vietnam’s largest export market, with revenues of US$66 billion. Meanwhile, China has continued to be the largest source of imports, with goods worth about US$79.2 billion.

To further enhance foreign trade, the Ministry of Industry and Trade is expediting negotiations over the Vietnam-UAE Comprehensive Economic Partnership Agreement (CEPA) and promoting the benefits of existing free trade agreements (FTAs).

The ministry is updating export market information for associations and businesses and boosting trade promotion activities.  – SGT –