Import-export approaches US$500 billion, trade surplus reaches US$20 billion
Import and export are filled with activities at the end of the year. Photo: T. Binh. |
According to preliminary information on the import and export situation in November of 2020 released by the General Department of Customs on the morning of December 14, the export value in November reached more than US$25 billion, down 7.4% from October. Meanwhile, the import value reached US$24.7 billion, up 1.5%.
In November, most of Vietnam's major export commodity groups fell sharply compared to October 2020.
Specifically, phones and accessories reached US$4.4 billion, down 18.4%; computers, electronic products and components reached US$3.85 billion, down 9.4%; textiles reached more than US$2.2 billion, down 12.7%.
However, in the eleven months, the country’s total export turnover gained approximately US$255 billion, up 5.5% year-on-year.
On the import side, the groups of "billion dollars" still maintained a slight increase compared to October.
In particular, computers, electronic products and components reached nearly US$6.3 billion, up 1.6%.
Besides, machines, equipment, tools and spare parts earned US$3.4 billion; phones and accessories nearly US$2 billion, up 2%; and fabric more than US$1 billion, up 0.8%.
Accumulated in the eleven months, total import turnover reached nearly US$235 billion, up 1.7% year-on-year.
Thus, in the eleven months, the country’s total import-export turnover reached approximately US$490 billion. Of which, trade surplus remained a record of about US$20 billion.
Trade surplus set new record of more than US$18 billion |
With the current scale and the growth rate in recent months, it is likely that the import and export turnover for the whole year 2020 will reach about US$540 billion, about US$23 billion higher than 2019 (last year it reached US$517.26 billion), an encouraging result amid the Covid-19 pandemic in 2020.
Related News
To maintain its billion-dollar export position, forestry and fisheries enterprises propose additional credit limits
06:15 | 28/04/2024 Import-Export
Risk prevention solutions for processing and export manufacturing businesses
07:52 | 29/04/2024 Regulations
Latest News
Developing a strong brand contributes to increased export revenue
07:49 | 29/04/2024 Import-Export
Export turnover reaches over US$200 billion in the first half of April
15:04 | 28/04/2024 Import-Export
Experts call for efforts in protecting IP rights
15:02 | 28/04/2024 Import-Export
Policies needed to encourage e-commerce to embrace circular economy
15:00 | 28/04/2024 Import-Export
More News
Efforts to supply US $ one billion of raw materials and cosmetics to replace imported goods
06:14 | 28/04/2024 Import-Export
Ample room for Quang Ninh to attract FDI
19:47 | 27/04/2024 Import-Export
Vietnam’s rice exports may exceed 2024 target
19:46 | 27/04/2024 Import-Export
Opportunity for exporting to Thailand market
14:48 | 27/04/2024 Import-Export
Enterprises want clearer regulations on seafood production
14:05 | 26/04/2024 Import-Export
Vietnam ranks fifth among aquatic product suppliers for Singapore
13:53 | 26/04/2024 Import-Export
Forum seeks to increase PPP investment effectiveness
13:48 | 25/04/2024 Import-Export
Linking businesses with cooperatives to increase the value chain
09:42 | 25/04/2024 Import-Export
Vietnam has a trade deficit of over US$17 billion with China
15:34 | 24/04/2024 Import-Export
Your care
Developing a strong brand contributes to increased export revenue
07:49 | 29/04/2024 Import-Export
Export turnover reaches over US$200 billion in the first half of April
15:04 | 28/04/2024 Import-Export
Experts call for efforts in protecting IP rights
15:02 | 28/04/2024 Import-Export
Policies needed to encourage e-commerce to embrace circular economy
15:00 | 28/04/2024 Import-Export
To maintain its billion-dollar export position, forestry and fisheries enterprises propose additional credit limits
06:15 | 28/04/2024 Import-Export