Exports to Italy fell more than "half a billion dollars" in five months

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Correlation of total export turnover and major exporting commodities to Italy by the end of May 2018. Photo: T. Binh

According to the Customs, by the end of May, Vietnam’s total exports to Italy reached only US$ 927.7 million, a sharp decrease compared to the same period in 2017 with US$1.466 billion.

Thus, in the first five months of 2018, the decline reached nearly US$ 540 million, equivalent to nearly 37%.

It is worth mentioning that the decline in export turnover to Italy is mainly due to 2 commodities, telephone and computer. In the same period in 2017, the telephone exports to Italy reached nearlyUS$ 618 million, while inthe first five months of this year it only reached US$ 75.3 million. On the other hand, computers only reached US$ 40.5 million, while the same period last year it was nearly US$ 107 million.

Only two commodities, export turnover has decreased nearly US$ 610 million over the same period last year.

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In addition to the above two commodities, another major export commodity exported to Italy also fell in value, which was cashew nut with a decrease of US$ 18 million.

The decline in turnover in large markets in Europe such as Italy is a big concern in the context that our exports are growing well (about 16%).