Export turnover goes up by 14.2 percent in ten months
Updated : Friday, November 02, 2018 2:34 PM (GMT+0700)

Vietnam’sexport turnover hit 200.27 billion USD in the first 10 months of 2018, up 14.2percent against the same period last year, according to the General StatisticsOffice (GSO). 

Illustrative image - Source: VNA

Export revenue of the domesticeconomic sector rose 16.8 percent, reaching 56.82 billion USD, while that ofthe foreign direct investment (FDI) sector expanded 13.2 percent to 143.45billion USD, up 13.2 percent, accounting for 71.6 percent of totalturnover. 

Many key exports gained highgrowth, with mobile phones and spare parts reaching 40.7 billion USD, garmentsand textiles 25.2 billion USD and computer and electronic spare parts 24.3billion USD, year-on-year rises of 10.6 percent, 17.1 percent and 15.2 percent,respectively. 

Growth was also seen in theearnings from farming products, including fruits and vegetables (up 14.4percent to 3.3 billion USD), coffee (1.1 percent to 3 billion USD) and rice (up16.1 percent to 2.6 billion USD).

However, crude oil exports inthe period fell in both value and volume compared to the same period last year,reaching only 1.8 billion USD, down 24.8 percent in value and 45.4 percent involume. 

The US remained the largestimporter of Vietnamese good in the period. Vietnam’s exports to this markettotaled 39 billion USD, a 12.8 percent year-on-year rise. 

It was followed by the EU,China, ASEAN, Japan and the Republic of Korea, with respective revenues of 34.9billion USD, 32.1 billion USD, 20.6 billion USD, 15.3 billion USD and 15billion USD. 

Meanwhile, the country’simport value rose 11.8 percent year-on-year to 193.84 billion USD. Of which,the domestic sector accounted for 77.5 billion USD, up 12 percent while the FDIsector spent 116.34 billion USD, up 11.7 percent.

Vietnam’s trade surplus in thefirst 10 months stood at 6.4 billion USD. 

The GSO warned that the tradewar between the US and China could affect the country’s import and exportactivities, so measures are needed to minimise these impacts.


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