Machinery exports up sharply, surpassed textiles and clothing to be in top three

VCN - Among the "billion dollar" export commodity groups of Vietnam in January 2021, machinery, equipment, tools and spare parts has seen one of the highest growth rates.
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The growth rate of the six largest export commodity groups in January 2021 compared to the same period of 2020. Chart: T. Binh.

According to the General Department of Customs, in January 2021, the export of machinery, equipment, tools and spare parts reached a turnover of nearly US$3.26 billion, up sharply by 119% over the same period last year.

This is one of the key commodity groups with the strongest growth in the firstmonth of 2021.

Notably, with a high growth rate, machinery, equipment, tools and spare parts surpassed textile and to be in the top threeof export goods with the largest turnover scale of Vietnam (after phones; machines; computers, electronic products and components).

In 2020, export value of this commodity group reached$27.19 billion, up 48.6% from the prior year.

The largest export market for machinery, equipment, tools and spare parts last year was the US with $12.21 billion, up strongly by 141.5%.

Other major markets (28 countries) reached the value of $3.49 billion, up 28.5%; South Korea with $2.05 billion, up 25.9%; Japan with $2.05 billion, up 5.6%; and China with $1.94 billion, up 22.2% compared to 2019.

By the end of January 2021, Vietnam's total export turnover reached$28.55 billion, sharply increasing by 55.1%, corresponding to an increase of$10.14 billionover the same period in 2020.

Of which, total export turnover of FDI enterprises reached $21.57 billion, up sharply 70% (equivalent to an increase of $8.88 billion) compared to the previous year, accounting for 75.5% of total export turnover of Vietnam

By the end of January, there were sixgroups of export goods with a turnover from 1 billion USD. In addition to the large commodity groups in the top threementioned above, the rest ofthreecommodity groups are: textiles and garments; footwear; wood and wood products.

By Thai Binh/ Phuong Thao

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