Vietnam’s trade turnover exceeds 400 billion USD

Vietnam total import export turnover has surpassed 400 billion USD according to the General Department of Customs
vietnams trade turnover exceeds 400 billion usd

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The country’s total import-export value reached 403.05 billion USD from the beginning of the year to October 15, a year-on-year increase of 8 percent, equivalent to an increase of 30.02 billion USD over the same period last year.

The department said that in the first half of October, total import and export value reached nearly 21 billion USD, down 12.8 percent compared to the second half of the previous month.

Although Vietnam recorded a trade deficit in the first period of this month, the overall figure for the year up until October 15 was a trade surplus of 6.83 billion USD.

The country’s total export value in the first half of October reached 10.31 billion USD, down 18.9 percent, 2.4 billion USD less than the last 15 days of September.

Exports in the first half of October decreased in some major commodities including mobile phones and spare parts, computers and components, and textiles and garments.

Imports in the 15 days reached 10.68 billion USD, down 5.9 percent or 674 million USD lower than the figure in the last 15 days of the previous month.

Compared to the second half of September, imports decreased in some items such as computers, electronic products and components, telephones and components and crude oil.

From the beginning of the year until October 15, total export value reached 204.94 billion USD, up 8 percent, equivalent to an increase of 15.18 billion USD over the same period last year.

From the beginning of the year to October 15, total import value hit 198.11 billion USD, up 8.1 percent, 14.85 billion USD higher than in the same period last year.

Experts said that the country's exports would continue to grow with the main motivation from traditional industries such as textiles, footwear and furniture.

Besides, exports often increase in the last months of the year as this is the peak period for shopping for consumer goods during holidays at the end of the year.

Looking at the past performance results, the goal of achieving turnover of 500 billion USD this year was entirely feasible, experts said.

Source: VNA

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