Exports grow significantly by nearly 16%

Chart of turnover value of the three largest export commodities, by the end of February. Picture: T.Bình

According to the General Department of Customs announcement, based on the actual data of the Customs agency, the total export turnover of the country reached $US 27.429 billion, increase by 15.8 % over the same period in 2016.

Notably, by the end of February, there were 7 groups of goods with value of export turnover up to $US 1 billion. In that, phone and accessories were $US 4.686 billion, reduce slightly by 0.4% over the same period; Textiles reached $US 3.533 billion, rose by 8.4%; Computers, electronic products and components reached $US 3,314 billion, increased by 43.5%.

Except for the group of phones and components which reduced slightly, the other key export items have great growth rate or very high growth rate over the same period.

In addition, the group of machinery, equipment, tools and spare parts also grew by 39.4%, reached $US 1.796 billion; Wood and wood products rose 14.1%, achieved $US 1.069 billion.

Meanwhile, about imports, by the end of February the country has spent an amount of foreign currency that worth $US 28.232 billion in order to import goods, increased by 23.3% over the same period last year.

With the strong growth of exports, the trade balance of our country in the last two months has reduced the differential level compared to the first half of the year. In particular, the trade deficit was only $US 803 million, while the trade deficit was $US 1.21 billion from the beginning of the year to 15^th February 2017.