173 billion USD is import-export turnover of FDI enterprises

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FDI enterprise’s structure in the total import and export turnover, by the end of July, the unit "billion USD". Chart: T. Binh.

According to the General Department of Customs, the total import-export turnover of Vietnam in the first seven months of 2020 reached 286.82 billion USD, down 0.8%, a decrease of 2.19 billion USD over the same period in 2019.

Of which, FDI enterprises hit 172.86 billion USD, down 5.1% (equivalent to 9.28 billion USD),but still accounted for 60.3% of total import and export turnover.

Contrary to the decline of FDI enterprises, the import and export turnover of domestic enterprises still had a good growth of 6.6% (equivalent to 7.1 billion USD) and reached 113.96 billion USD in the first seven months of the years.

The advantages of FDI enterprises are more concentrated in the export sector.

The statistics of the General Department of Customs also showed the export turnover of FDI enterprises in the first seven months was 95.4 billion USD, although it decreased by 4.2% (equivalent to a decrease of 4.16 billion USD) compared to same period last year, but still accounts for 64.6% of the total export turnover of Vietnam.

By the end of July, many export commodity groups of FDI enterprises had turnover of billions of USD, especially in fields related to high technology.

Phones and components were the largest group with 24.2 billion USD, accounting for more than 92% of the total export turnover of this commodity group.

Meanwhile, computers, electronic products and components also reached 19.8 billion USD, accounting for more than 84% of total export turnover.

Other major export commodity groups with large contributions from FDI enterprises such as: textiles and garments reached nearly 9.3 billion USD; machinery, equipment, tools and spare parts reached USD 8.6 billion; shoes reached 7.2 billion USD.

On the import side, FDI enterprises reached 77.46 billion USD in the first seven months, down 6.2% (equivalent to a decrease of 5.12 billion USD) over the same period in 2019, accounting for 55.6% of total import turnover.

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Computers, electronic products and components are Vietnam's largest import commodity group and FDI enterprises also dominate with turnover of 26.3 billion USD, equivalent to more than 80% of import turnover of this commodity group.