Trade in southern provinces plunges nearly US$6 billion
Agro-forestry-fisheries sector enjoys trade surplus of US$3.3 billion in eight months | |
Efforts to clear flow of trade | |
Remarks by Prime Minister Pham Minh Chinh at 2021 Global Trade in Services Summit |
Exports in 19 local customs departments fell in January-August. Chart by: Thai Binh. |
19 southern localities see 10% tumble in trade
According to the GDVC, the turnover in 19 southern local customs departments accounts 45% of total trade across the country.
The trade in the local customs departments sharply fell by 30% compared with June. The three major customs departments showed the plunge in trade. HCM City Customs dropped by 39.3% in export turnover and 15% in import turnover; Dong Nai Customs Department fell 40.4% in import and 16.3% in import, while Binh Duong Customs Department declined by 48% in export and 31% in import.
In contrast to the southern localities, the trade in Bac Ninh Customs Department saw a strong recovery after the province contained the pandemic.
In July, export turnover increased by 58% to US$7.2 billion and import turnover surged by 19% to US$5.5 billion compared to June.
The department reported that in August, the exports soared by 22% month-on-month to US$8.8 billion and imports to US$6.7 billion.
Imports in 19 southern provinces between January and August. Chart: Thai Binh |
Total trade hit US$ 430 billion
The total trade of the country in August fell 4.2% to US$54.57 billion from the prior month.
Between January and August, the Vietnam’s exports increased 27.5% to US$429.68 billion compared with the same period of the previous year.
The country faced a trade deficit of US$109 million in August. Between January and August it had a trade deficit of US$2.63 billion and a trade surplus of US$13.7 billion.
By the end of August, exports of foreign direct investment (FDI) rose 26.5% to US$156.64 billion from a year ago, imports jumped 36.9% to US$140.78 billion.
Exports of many major item groups in southern provinces saw the sharp decrease meanwhile showing the increase in export of key commodity groups of many factories in northern localities.
Exports of fishery products, wood and wooden products and footwear fell by 30.3%, 39% and 40.2%, respectively.
On the contrary, exports of some commodity groups reported the soar compared with the previous month like iron and steel by 35%, computers, electronic products and components by 14.8%, cameras, camcorders and accessories by 41%.
Import turnover of major commodity group saw a tumble like autos down 29.3%, petroleum products down, 55%, crude oil down 50%.
Rxports to the key markets in August also dropped (excluding to China), including to the US, the EU and ASEAN down 5.1%, 12.2% and 6.4% to US$7.92 billion, US$3 billion and US$2.23 billion, respectively.
Imported goods from China decreased 7% to US$9.18 billion compared with July.
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
Why more than 100 Vietnamese means of transport detained in China?
08:21 | 01/05/2024 Customs
Latest News
Enhance the core values of the national brand
15:36 | 02/05/2024 Import-Export
Solutions for maintaining Vietnam's position as a bright spot for foreign direct investment
15:36 | 02/05/2024 Import-Export
FDI disbursement in January-April period reaches five-year record
19:43 | 01/05/2024 Import-Export
Binh Duong aims to become logistics hub in southern region
19:41 | 01/05/2024 Import-Export
More News
Digital transformation – optimal choice for Vietnamese garment & textile firms
19:39 | 01/05/2024 Import-Export
Infrastructure development creates momentum for exports to "neighboring" markets
19:36 | 01/05/2024 Import-Export
Seaports increase services to attract goods
19:35 | 01/05/2024 Import-Export
The supporting industrial enterprises transform for sustainable development
08:20 | 01/05/2024 Import-Export
Foreign investment disbursement hits record high in the first four months
13:36 | 30/04/2024 Import-Export
Vietnam textile and garment strives to increase the localization rate
06:46 | 30/04/2024 Import-Export
Central Highlands needs to develop border gate economic zones for higher export
16:41 | 29/04/2024 Import-Export
RoK burgeoning market for Vietnam’s agro-forestry-fisheries exports
16:37 | 29/04/2024 Import-Export
Developing a strong brand contributes to increased export revenue
07:49 | 29/04/2024 Import-Export
Your care
Enhance the core values of the national brand
15:36 | 02/05/2024 Import-Export
Solutions for maintaining Vietnam's position as a bright spot for foreign direct investment
15:36 | 02/05/2024 Import-Export
FDI disbursement in January-April period reaches five-year record
19:43 | 01/05/2024 Import-Export
Binh Duong aims to become logistics hub in southern region
19:41 | 01/05/2024 Import-Export
Digital transformation – optimal choice for Vietnamese garment & textile firms
19:39 | 01/05/2024 Import-Export