Vietnam enjoys robust export growth to several major markets

Sunday, 31/07/2022 09:22
Vietnam recorded high export growth to the United States, the EU, and the Republic of Korea (RoK) during the past seven months of the year, according to data compiled by the General Statistics Office (GSO).

Largely due to the driving force of the EU-Vietnam Free Trade Agreement (EVFTA), the country racked up a trade surplus of US$18.7 billion with the EU, representing a year-on-year rise of 41.5%. Elsewhere, exports to the US market alone surpassed the US$67 billion mark.

In contrast, the country’s trade deficit with China and the RoK surged by 21.6% and 30.3% to hit US$42.2 billion and US$23.5 billion, respectively.

Furthermore, the trade deficit with ASEAN and Japanese market recorded a decline of 8.9% and 13.9% to US$7.9 billion and US$769 million, respectively.

The total import and export turnover of goods throughout the seven-month period stood at an estimated US$431.94 billion, up 14.8% against the same period from last year, of which exports and imports increased by 16.1% and 13.6%, respectively.

The domestic economic sector raked in US$56.99 billion from exports, posting a rise of 17% and making up 26.3% of total export turnover, while the FDI sector grossed US$159.36 billion from exports, up 15.7%, accounting for 73.7%.

There are a total of 30 commodity items with an export turnover exceeding US$1 billion, accounting for 91.9% of the total export turnover.

Of the figure, there are five export items earning a turnover of over US$10 billion, including phones and components, electronics, computers and components, machinery, equipment, tools and spare parts, garments and textiles, as well as footwear./.

CPV (Source: VOV)