Export revenue rises 4.7% in ten months despite COVID-19

Thursday, 2020-10-29 17:58:17
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In the ten-month period, Vietnam posts total export revenue of US$229.27 billion, up 4.7% over the same period last year. (Illustrative image)
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NDO – Vietnam’s imports and exports still maintained a positive increase in the first ten months of this year, making a considerable contribution to national economic growth despite the complicated developments of the COVID-19 pandemic across the world, according to the General Statistics Office (GSO).

In the ten-month period, Vietnam posted total export revenue of US$229.27 billion, up 4.7% over the same period last year. Thirty-three types of goods reported export revenue of over US$1 billion each, accounting for 91.8% of total export revenue, including five types of goods recording revenue of over US$10 billion each, making up 59.9% of the national total.

Heavy industry and minerals were estimated to have had export revenue of US$123.8 billion, up 8.4% over the same period last year. Light industry and handicraft products posted export revenue of US$81.8 billion, up 1.5%.

Meanwhile, the export revenue of agricultural, forestry and fishery products reached US$16.8 billion, down 1.5% and the export revenue of seafood products decreased by 2.5% to US$6.9 billion.

The US was the leading export market of Vietnam in the first ten months of this year with export revenue of US$62.3 billion, up 24% over the same period in 2019.

During the January-October period, Vietnam’s total import revenue was estimated at US$210.55 billion, up 0.4% over the corresponding period last year.

China remained the largest importer from Vietnam during the period with import revenue of US$65.8 billion, a rise of 6.2% over the same period last year.

Vietnam posted a trade surplus of US$2.2 billion in October and a record surplus of US$18.72 billion in the first ten months of this year.

According to the GSO, domestic trade continued to rise in October as total retail sales of goods and services rose by 2.4% over the previous month and 6.1% over the same period last year.