Export turnover approaches preset goal
11:00 | 07/11/2019

VGP – Overseas shipment of made-in-Viet Nam projects was on the decline but closely followed the preset goal of 7-8%. 

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In the first ten months, export turnover valued US$ 217.05 billion, representing a year-on-year growth of 7.4%, but was lower than the rates of 21.8% and 15.3% in 2017 and 2018, respectively.

Noticeably, export turnover of the domestic sector hit US$ 66.63 billion, up 16.2%, accounting for 30.7% of total export turnover. The FDI sector gained US$ 150.42 billion of export turnover, up 3.9%, making up 69.3%.

Industrial processing commodities dominated 84.3% of total export turnover by bringing back US$ 182.93 billion, representing a year-on-year growth of 9.4%. Meanwhile, agro-forestry export turnover valued US$ 20.87 billion, accounting for 9.62% of total export turnover, representing a year-on-year decline of 6.1%. In addition, seven out of nine exports experienced year-on-year declining prices such as aquaculture, vegetables and fruits, coffee, pepper, and rice. 

Similarly, overseas shipment of mining valued US$ 3.65 billion, down 8.9% against the same period last year. 

The U.S. was Viet Nam’s biggest export market; followed by the EU, China, ASEAN, Japan, and the RoK. 

On the other hand, in the first ten months, import volume hit US$ 210 billion, representing a year-on-year growth 7.8%. 

The Ministry of Industry and Trade (MoIT) believed that 2019 would be the fourth consecutive year Viet Nam gains a trade surplus.

The Ministry is researching solutions and measures to develop exports to and imports from important markets and broaden market shares to traditional markets and FTA partners. 

Meanwhile, the MoIT would control import; prevent trade frauds; speed up negotiations for FTA new generations./. 

By Kim Loan 

 

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