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  • News
  • News in Vietnam
  • 28 October 2021

Import and export exceeded 500 billion USD

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From the beginning of the year to the end of October 15, 2021, the country’s total import-export turnover reached 510.46 billion USD. This number has come very close to the results of the whole year of 2020, 543.9 billion USD…

The General Department of Customs announced the latest data on the import and export of Vietnam’s goods on October 1, 2021 (from October 1 to October 15, 2021).

Accordingly, the total import-export value of Vietnam in the first period of October 1, 2021, reached 26.14 billion USD, down 10.1% (equivalent to 2.93 billion USD) compared to the implementation results in the second half of September 2021.

The results achieved in the first half of October 2021 brought the total import-export value of the whole country by the end of October 15, 2021, to reach US$510.46 billion, up 23.6%, equivalent to an increase of 97.36 billion USD in absolute terms over the same period in 2020.

In which the total import-export value of foreign direct investment (FDI) enterprises reached 353.93 billion USD, up 26.5% (equivalent to 74.18 billion USD); the import-export value of domestic enterprises was 156.53 billion USD, up 17.4% (equal to 23.18 billion USD) over the same period in 2020.

On October 1, 2021, the trade balance of goods had a surplus of 173 million USD. From the beginning of the year to the end of October 15, 2021, the trade balance of interests had a deficit of 2.44 billion USD.

PHONES AND COMPONENTS LEADING EXPORTS

The total value of export goods of Vietnam in the first period of October 1, 2021, reached 13.16 billion USD, down 14.9% (equivalent to 2.31 billion USD in absolute terms) compared to the period of September 2 / 2021.

FDI accounts for more than 65% of TOTAL IMPORT VALUE

The total value of imported goods of Vietnam in the first period of October 1, 2021, reached 12.98 billion USD, down 4.5% (equivalent to 618 million USD in absolute terms) compared to the performance in the second half September 2021.

Some groups of goods with reduced import value were computers, electronic products, and components, down US$ 464 million, equivalent to a decrease of 12.7%; All kinds of phones and parts decreased by 374 million USD, equal to a 30.3% decrease…

Efforts to conquer 600 billion USD

According to the Ministry of Industry and Trade forecast, with the current import-export growth rate, the whole year’s import-export turnover may exceed 600 billion USD.

To achieve this goal, in the last months of 2021, the Ministry of Industry and Trade will continue to exploit and take advantage of opportunities from Free Trade Agreements (FTAs) to find solutions to develop markets and remove trade barriers. Remove barriers to entering new markets.

In the short term, taking advantage of the recovery of the US and European markets to boost the export of Vietnam’s strong products such as textiles, footwear, electronics, furniture, seafood, etc., especially for the occasion increased shopping at the end of the year.