Import and export of FDI enterprises decreased by more than 20 billion USD

VCN -Enterprises with foreign direct investment (FDI) accounted for more than 67.4% of the decline in import and export turnover of the whole country in the first 4 months of the year.
Measures needed to sustain FDI growth trend: expert Measures needed to sustain FDI growth trend: expert
Legal risks make private enterprises invest less in large projects Legal risks make private enterprises invest less in large projects
Exports tend to increase mainly come from FDI enterprises Exports tend to increase mainly come from FDI enterprises
Import and export of FDI enterprises decreased by more than 20 billion USD

FDI enterprises account for over 99% of the export turnover of phones and components of Vietnam.

According to the latest preliminary statistics of the General Department of Customs, the country's total import-export turnover from the beginning of the year to the end of April 15 reached 179.74 billion USD, down 14.6%, corresponding to a decrease of 30 0.7 billion USD over the same period in 2022.

Notably, the import-export turnover of enterprises with foreign direct investment (FDI) only reached 125.56 billion USD, down 14.2% (equivalent to 20.7 billion USD).

Thus, FDI enterprises accounted for more than 67.4% of the decrease in turnover of the whole country (20.7/30.7 billion USD).

Regarding exports, in the first halfof April (April 1-15), the turnover of FDI enterprises reached US$ 9.56 billion, down 20.5%, corresponding to a decrease of USD 2.47 billion compared to the second period of March 2023. By the end of April 15, 2023, it reached 68.6 billion USD, down 11%, corresponding to 8.48 billion USD down over the same period last year, accounting for 74.2% of the total export turnover of the country.

Regarding imports, in the first quarter of April, FDI enterprises spent 8.28 billion USD on importing goods, down 8.6% (equivalent to 779 million USD) compared to the second period in March 2023. By the end of April 15, 2023, the total turnover reached 56.96 billion USD, down 17.7% (equivalent to 12.26 billion USD) compared to the same period in 2022, accounting for 65.3% of the total import turnover of the country.

As the above data shows, FDI enterprises make a very important contribution to Vietnam's import and export results.

In particular, these enterprises have great advantages in many key product groups such as phones and components; computers, electronic products and components; wood and wood products; footwear; textiles, etc.

By Thai Binh/Phuong Linh

Related News

Regulating goods across Huu Nghi International Border Gate during peak times

Regulating goods across Huu Nghi International Border Gate during peak times

VCN – In order to reduce the pressure on customs clearance of import and export goods for the international border gate pair during peak times, the management agency of Lang Son (Vietnam) has just discussed with the management authority of Pingxiang (China) to strengthen coordination in regulating the means of transporting goods of enterprises on both sides.
Strictly control imports and trade of toxic chemicals

Strictly control imports and trade of toxic chemicals

VCN – HCM City Police has just advised the HCM City Steering Committee 138 to direct Customs Department, the Department of Industry and Trade, the Market Surveillance Department to review all enterprises permitted to import and trade dangerous and toxic chemicals to conduct inspections of their law compliance.
Khanh Hoa Customs reaches revenue target 1 quarter early

Khanh Hoa Customs reaches revenue target 1 quarter early

VCN - Many key import items increased sharply, along with efforts in trade facilitation, tax debt collection, so in just 9 months of 2024, Khanh Hoa Customs Department completed the state budget revenue target.

Latest News

Import and export are expected to reach 800 billion USD

Import and export are expected to reach 800 billion USD

VCN - Although the import and export turnover of goods slowed down in September 2024, in general, import and export activities, especially exports, still grew positively in the first 9 months of 2024. It is expected that import and export of goods in 2024 will reach a record of 800 billion USD.
Fresh coconuts quenching new overseas markets

Fresh coconuts quenching new overseas markets

Vietnam’s fresh coconuts are being increasingly consumed in international markets such as the US, China, and the UK, highlighting a bright spot in Vietnam's fruit export sector with many opportunities for breakthroughs in the near future.
Rice exports likely to set new record in 2024

Rice exports likely to set new record in 2024

Vietnam sold 800,000 tonnes of rice overseas for 505 million USD in October, bringing the country's total export volume and value in the first ten months to nearly 7.8 million tonnes and 4.86 billion USD, up 10.2% and 23.4% year-on-year, respectively.
Vietnamese goods conquer halal market through trust and quality

Vietnamese goods conquer halal market through trust and quality

VCN - According to the Ministry of Agriculture and Rural Development, Vietnam's capacity to export over 50 billion USD worth of agricultural products annually, coupled with established supply chains, provides a significant advantage for Vietnamese agricultural and aquatic products to penetrate the Halal market.

More News

Exporters urged to have strategies to take advantage of UKVFTA for expansion

Exporters urged to have strategies to take advantage of UKVFTA for expansion

The UK is concerned by sustainable development, labour issues, environmental protection and social responsibility. Therefore, when exporting to the UK, enterprises should not just be concerned about being competitive in terms of price and quality.
Fresh coconuts quenching new overseas markets

Fresh coconuts quenching new overseas markets

Vietnam’s fresh coconuts are being increasingly consumed in international markets such as the US, China, and the UK, highlighting a bright spot in Vietnam's fruit export sector with many opportunities for breakthroughs in the near future.
Vietnam and UAE trade sees billion-dollar growth

Vietnam and UAE trade sees billion-dollar growth

VCN - According to General Department of Vietnam Customs by the end of September 2024, bilateral trade between Vietnam and the United Arab Emirates (UAE) reached nearly US$5 billion, an increase of more than US$1.4 billion over the same period last year.
Sharing responsibility for ensuring security and safety of the supply chain

Sharing responsibility for ensuring security and safety of the supply chain

VCN – Post - clearance audit is carried out in a planned, focused and key manner, avoiding widespread and ineffective inspections, thereby creating convenience for the business community and improving the effectiveness of state management of customs.
Many factors affecting tuna exports in the last months of the year

Many factors affecting tuna exports in the last months of the year

VCN - Tensions between Israel and Iran escalate, tuna businesses are worried, they may have to stop export orders to the Israeli market in the last months of the year.
Vietnam still dominates Philippine rice import

Vietnam still dominates Philippine rice import

Vietnam continues to assert its dominance as the top rice exporter to the Philippines, with 2.91 million tonnes shipped as of the late October, or over 79% of the Philippines' total rice imports, according to the Vietnam Trade Office in the Philippines.
Vietnam cements ties with partners to engage in global semiconductor, AI industries

Vietnam cements ties with partners to engage in global semiconductor, AI industries

By boosting cooperation with reputable partners across the globe, Vietnam is taking steps to gain a foothold in the world’s semiconductor and artificial intelligence (AI) industries.
Aquatic exports expected to rise in year-end despite challenges

Aquatic exports expected to rise in year-end despite challenges

Aquatic exports is expected to surge in the remaining months of this year, as the year-end festive season comes, despite many challenges in the international markets, according to insiders.
Trade Defense: The Key to Success for Vietnamese Businesses

Trade Defense: The Key to Success for Vietnamese Businesses

VCN - From losses and near bankruptcy, many domestic enterprises have recovered thanks to timely application of trade defense measures. Trade defense is also an effective shield for Vietnamese enterprises against a series of lawsuits from importing countries, thereby maintaining advantages and developing on "away grounds".
Read More

Your care

Latest Most read
Import and export are expected to reach 800 billion USD

Import and export are expected to reach 800 billion USD

VCN - At the regular Government meeting in September 2024, Minister of Industry and Trade Nguyen Hong Dien assessed: import and export continued to be a bright spot, recording a positive recovery compared to the same period last year.
Fresh coconuts quenching new overseas markets

Fresh coconuts quenching new overseas markets

Vietnam’s fresh coconuts are being increasingly consumed in international markets such as the US, China, and the UK, highlighting a bright spot in Vietnam's fruit export sector with many opportunities for breakthroughs in the near future.
Rice exports likely to set new record in 2024

Rice exports likely to set new record in 2024

Vietnam sold 800,000 tonnes of rice overseas for 505 million USD in October, bringing the country's total export volume and value in the first ten months to nearly 7.8 million tonnes and 4.86 billion USD, up 10.2% and 23.4% year-on-year, respectively.
Vietnamese goods conquer halal market through trust and quality

Vietnamese goods conquer halal market through trust and quality

According to the Ministry of Agriculture and Rural Development, Vietnamese agricultural and aquatic products could penetrate the Halal market.
Exporters urged to have strategies to take advantage of UKVFTA for expansion

Exporters urged to have strategies to take advantage of UKVFTA for expansion

The UK is concerned by sustainable development, labour issues, environmental protection and social responsibility. Therefore, when exporting to the UK, enterprises should not just be concerned about being competitive in terms of price and quality.
Mobile Version