Vietnam Law & Legal Forum Magazine is your gateway to the law of Vietnam

Official Gazette

Saturday, February 4, 2023

Vietnam’s export turnover up 21.5 percent in eight months

Updated: 11:39’ - 30/08/2021
Vietnam’s export turnover in the first eight months of 2021 rose by 21.5 percent year on year to USD 212.5 billion, despite a decline of 5.4 percent in August, the General Statistics Office (GSO) reported on August 29.

Garment production for export to the US at Tien Thuan Garment Co., Ltd. in the south central province of Ninh Thuan__Photo: VNA
The domestic sector contributed USD 55.6 billion, accounting for 26.2 percent of the total and representing a year-on-year increase of 10.5 percent. The foreign-invested sector (including crude oil) made up 73.8 percent of the total, or USD 156.8 billion, up 25.5 percent.

During the period, 30 export items recorded revenue of over USD 1 billion each and together they accounted for 91.8 percent of the total shipments.

The group of industrial processing goods reeled in a largest share of total export earnings, with nearly USD 189.3 billion, up 22.5 percent year on year. Meanwhile, agricultural and forestry products brought home USD 15.4 billion (up 14.9 percent) and of aquatic products USD 5.58 billion, up 7.1 percent.

The US remained the biggest export market of Vietnam from January-August, buying USD 62 billion of Vietnamese goods, a year-on-year rise of 32.5 percent. China came second with USD 32.7 billion, up 19.8 percent. The EU and ASEAN followed with USD 26 billion and USD 18.4 billion, increasing by 14.5 percent and 23.3 percent, respectively.

Meanwhile, the country spent 216 billion USD on imports in the eight-month period, an annual growth of 33.8 percent, with China being the biggest source of imports. 

The country posted a trade deficit of USD 3.71 billion during the period.- (VNA/VLLF)

Send Us Your Comments:

See also:


Vietnam Law & Legal Forum