Which markets were nearly $242 billion of Vietnam's goods exported to?

Export market share structure of Vietnam to 5 continents. Chart: T. Binh

Computers increased sharply

Among key export commodity groups, computers, electronic products and components saw the highest increase of US$5.24 billion, equivalent to 19.3 percent.

This was followed by mobile phones and accessories with US$2.31 billion, up by 5 percent; textile and apparel increased by US$2.16 billion, equivalent to 7.8 percent; and footwear of all kinds increased by US$1.89 billion, equivalent to 12.9 percent.

In terms of turnover scale, phones and components are still the largest export items with a value of US$48.53 billion.

The EU (28 countries) is the largest export market with US$11.82 billion, down 7.1 percent. This is followed by the United States with a value of US$8.45 billion, up 62.5 percent; China reached US$7.36 billion, down 12.4 percent; South Korea reached US$4.89 billion, up 17.6percent.

Computers, electronic products and components ranked second with US$32.4 billion. The main export markets are: China reached US$8.47 billion, up 10.5 percent; the United States reached US$5.37 billion, up sharply by 103.4 percent; the EU reached US$4.68 billion, down 8.6 percent; Hong Kong reached US$2.72 billion, up 30.8 percent; South Korea reached US$2.66 billion, corresponding to an increase of 15.6 percent.

Textile products, which ranked second for many years, are now down to third with a turnover of US$29.9 billion.

The United States continues to be the largest textile and garment export market from Vietnam with a value of US$13.46 billion, up 8.1 percent over the same period last year and accounting for 45 percent of total textile and garment export turnover of the whole country.

In addition, the EU market reached US$3.94 billion, up 4.2 percent; Japan reached US$3.62 billion, up 4.1 percent; South Korea reached US$3.12 billion, up 2.3 percent; China reached US$1.46 billion, up 5percent.

Along with the three major groups mentioned above, at the end of November, there were two groups with a turnover of US$10 billion or more, including: machinery, equipment, tools and spare parts and footwear.

In particular, machines, equipment, tools and spare parts reached US$16.55 billion, up 10.4 percent compared to the same period last year. The key export markets are the United States with US$4.53 billion, up 47.2 percent; EU reached US$2.45 billion, up 21.8 percent; Japan with US$1.76 billion, up 4 percent; South Korea with US$1.46 billion, up 29.9 percent.

Footwear of all kinds also reached US$16.55 billion, up 12.9 percent. The United States and the EU continue to be the two main import markets of Vietnam's footwear products with a turnover and growth rate of US$5.96 billion (up 13.3 percent) and US$4.59 billion, respectively (up 8.1 percent). Particularly, the two main markets reached US$10.55 billion, accounting for 63.8 percent of the total export turnover of this commodity group forthe whole country.

Another notable group of exports is agricultural products (including vegetables, cashew nuts, pepper, tea, coffee, rice, cassava and rubber products) with a total turnover of US$15.28 billion, down 6.7 percent compared to the same period last year (equivalent to US$1.1 billion).

China is still the largest import market of Vietnam's agricultural products with US$5.33 billion, down 9.4 percent; followed by the EU with US$2.29 billion, down 8.5 percent; the ASEAN blocreached US$2.03 billion, up slightly by 0.7 percent; the United States reached US$1.49 billion, down 16.1 percent.

Asia accounts for 51.2 percent of export turnover

In the total import-export value of the whole country, FDI enterprises accounted for US$297.87 billion, up 3.2 percent, equivalent to an increase of US$9.2 billion over the same period last year.

In particular, exports of FDI enterprises reached US$165.03 billion, up 4.1 percent over the same period last year; import reached US$132.84 billion, up 2.1 percent.

Thus, the trade balance of FDI enterprises in the first 11 months of 2019 reached US$32.18 billion.

In the past 11 months, trade exchange between Vietnam and the Americas reached US$87.62 billion, up 22.2 percent over the same period in 2018, this is considered the highest growth continent this year.

However, in terms of turnover scale, Asia continued to occupy the highest proportion, reaching 65.4 percent, or US$308.73 billion, up 4.8 percent.

Import-export turnover between Vietnam and other continents, respectively: Europe reached US$60.59 billion, up 2.5 percent; Oceania reached US$8.88 billion, up 5.7 percent and Africa reached US$6.55 billion, up slightly 0.3 percent.

In terms of export markets, Asia reached US$123.63 billion, up 2.4 percent over the same period in 2018, accounting for 51.2 percent of the country's total turnover.

The Americas reached US$67.19 billion, up 26.5 percent, accounting for 27.8 percent; Europe reached US$43.84 billion, up 2.1 percent, accounting for 18.1 percent; Oceania reached US$4.12 billion, down 7.4percent accounting for 1.7 percent; Africa reached US$2.88 billion, up slightly by 8.3 percent, accounting for 1.2 percent.