February 04, 2023 10:25

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Three key export commodities suffered losses in the first weeks of February

10:14 | 04/03/2022

VCN - Exports in the first half of February only reached half of the figure during the last 15 days of January, with textiles, machinery and telephones seeing the largest declines.

Goods are imported and exported mainly through Cat Lai port. Photo: T.H
Goods are imported and exported mainly through Cat Lai port. Photo: T.H

According to the General Department of Customs, in the first period of February, Vietnam saw a 50.5% decrease in export revenue compared to the second half of January, reaching only US$8.75 billion by the 15th of the month.

Particularly, export revenue of textiles and garments went down by 67.3%, roughly US$1.41 billion; machinery, equipment, tools and spare parts plummeted by US$1.1 billion, while phones and components witnessed a 38.3% decline, approximately US$1.01 billion. Additionally, computers and electronic equipment also decreased by 35.2%, roughly US$875 million.

Nevertheless, from the beginning of the year until the first half of February, Vietnam’s total exports managed to reach US$39.58 million, a 2.7% increase compared to the same period during 2021 with textiles and garments going up by 12.7%, seafood products increased by 33.5%, and raw materials witnessed a 30.9% surge. While key commodities such as smartphones, electronic components and footwear products went down by 21.7% and 3.7%, respectively.

Insights from the General Department of Customs showed that export turnover of foreign direct investment enterprises in the first period of February decreased by 47.7% compared to the second half of January 2022. By February 15, export turnover went down by 1.3% to US$28.77 billion, making up 72.7% of Vietnam’s total export turnover.

By Lê Thu/Nhật Minh