Vietnam's import-export turnover up by 24% in 9 months

Vietnam shipped $240.52 billion worth of goods abroad in the first nine months of 2021, up by 18.8 per cent year on year. The domestic sector contributed $62.72 billion and the foreign direct investment (FDI) sector (including crude oil) $177.8 billion, increasing respectively by 8.5 per cent and 22.8 per cent annually.

During the nine-month period, 31 products recorded an export value of over $1 billion each and together accounted for 92.5 per cent of the nation’s total export, according to Vietnamese media reports.

The export of the group of processed industrial products reeled in $214 billion, an increase of 19.5 per cent from the same period last year. It was followed by agricultural and forestry products at $17.7 billion (up by 17.6 per cent) and aquatic products at $6.17 billion (up by 2.4 per cent).

The United States remained the biggest export market of Vietnam, spending $69.8 billion on importing Vietnamese products, a year-on-year rise of 27.6 per cent. China was second with $38.5 billion, up by 18.3 per cent. The European Union and the Association of Southeast Asian nations followed with $28.8 billion and $20.6 billion—increasing by 11.6 per cent and 21.2 per cent—respectively.

The import turnover in the nine-month period reached $242.65 billion, a hike of 30.5 per cent compared to the same period last year. Domestic businesses imported $83.72 billion worth of goods, up by 25 per cent, while FDI enterprises made up the majority with $158.93 billion, an increase of 33.6 per cent.

Fibre2Fashion News Desk (DS)