Making news

Nine-month export revenue picks up 8.2 percent

Vietnam exported 194.3 billion USD worth of products in the first nine months of the year, a year-on-year surge of 8.2 percent, the Ministry of Industry and Trade said on September 30.

According to the ministry, 30.7 percent of the export turnover was contributed by the domestic economic sector, and 69.3 percent by the foreign-invested sector.

The US continued to be the largest importer of Vietnam as it splashed out 44.9 billion USD on purchasing Vietnamese goods, followed by the EU (31.1 billion USD), ASEAN (19.4 billion USD), Japan (15.1 billion USD), and the Republic of Korea (14.5 billion USD).

During the period, 26 products achieved an export turnover of more than 1 billion USD, with five of them posting more than 10 billion USD in export value.
To be more specific, shipments of telephones and spare parts fetched 38.6 billion USD; electronic products, computers and spare parts, 25.4 billion USD; garments and textiles, 24.8 billion USD; footwear, 13.3 billion USD; and machines, equipment and spare parts, 12.9 billion USD. They all recorded a good growth of 5.1 percent, 16.9 percent, 10.4 percent, 13.5 percent and 7.5 percent, respectively.

On stark contrast, exports of agro-fishery products experienced a substantial drop, with the sharpest falls seen in shipments of coffee (20.7 percent) and rice (9.7 percent).

Experts said that shipments of agricultural products and seafood depended much on the Chinese market, and once the Chinese Government tightened import standards, Vietnamese exporters would find it hard to bring their products to this market. Meanwhile, local firms maintained export advantage in the US, the EU, the Republic of Korea and Japan, with most of the exports being electronic products, garments-textiles, and footwear.