Import-export value hits close to US$420 billion over 11 month span

Despite a decline in the total import-export value during the first half of November, Vietnam enjoyed a strong trade surplus of US$6.83 billion during the first half of the month.

Total export value during the first half of November reached US$10.63 billion, down by 13.8% against the same period last year but the country’s total export value surged up by 15.1% to US$212.64 billion since the beginning of the year up until November 15. Total import value also rose by 12.4% to US$205.81 billion in the reviewed period.

Do Thang Hai, the Deputy Minister of Industry and Trade, said recently that Vietnam has continued persifying its markets, expanding its scale of exports, and providing support to businesses, noting that the export growth rate in the domestic sector is higher than that in the FDI sector.

Between now and the end of the year seafood, rice,fruit and vegetables are expected to become key commodities with a high export turnover, making active contributions to total export turnover, which is projected to rise by 11.2% across the entire year, according to the Ministry of Industry and Trade (MoIT).

In order to fulfill the target, the MoIT will strengthen its forecast work, issuing warnings over trade defence measures applied on Vietnam’s export products and devise timely solutions and orientations that will assist businesses in removing obstacles, promote strong production and export activities as well as developing markets.

In addition to these measures, the ministry will also seek opportunities to expand into new markets and increase market shares of Vietnamese goods within traditional and FTA partner markets with Vietnam as well as facilitating Vietnam’s farm produce and aquatic products to penetrate new markets.