Exports up 33% in January

VGP – Viet Nam’s total exports in January reached US$19 billion, a year-on-year increase of 33% and higher than the goal set by the National Assembly, according to the Ministry of Industry and Trade.

February 03, 2018 5:24 PM GMT+7

Photo: VGP/Thuy Dung

Exports of the State and foreign-invested sectors (including crude oil) rosed 32% and 34%, respectively.

Key commodities that saw remarkable export revenue growth include phones and spare parts (US$4 billion, up nearly 81%), garments (US$2 billion, up 7.6%), electronics, computers and accessories (US$2 billion, up 38%), footwear (US$1 billion, up 11%) and machines and tools (US$1 billion, up 18%).

In the first month of 2018, China overcame the U.S. to become the largest trade partner of Viet Nam with the two-way trade volume of US$4.5 billion, 2.5 times higher than the same period last year.

It was followed by the U.S. with US$3.5 billion, up 17%, the EU with US$3 billion, up 6.6%, ASEAN wth US$2 billion, up 16%, Japan with US$1.5 billion up 17% and the Republic of Korea with US$1 billion, up 28%.

Viet Nam’s imports in January exceeded US$19 billion, up 47% against the same period last year.

The country posted a trade deficit of US$300 million in the first month this year./.

By Thuy Dung