December 10, 2019 18:11

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Import-export turnover reaches 427 billion USD

13:42 | 12/11/2019

VCN - In October, Vietnam's total import and export value was estimated at 44.9 billion USD, down 0.5% from the previous month. Of which, total export value is about 22.4 billion USD, down by 4.1% and total import value is about 22.5 billion USD, up by 3.5%, according to the General Department of Customs.

tin nhap 20191111160253 Three continents with tens billions of dollars of import-export turnover of Vietnam
tin nhap 20191111160253 Vietnam enjoys growing trade surplus of over US$6.8 billion
tin nhap 20191111160253 Target of 500 billion USD in import-export turnover obtainable
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Import and export goods in Hai Phong port area. Photo: T. Binh.

Trade surplus is over 7 billion USD

The estimated results bring the total import and export turnover in the first 10 months of 2019 to 427.05 billion USD, up 7.6% over the same period in 2018.

Of which, total export value is about 217.05 billion USD, up by 7.4% and total import value is about 210 billion USD, up by 7.8%.

Vietnam's trade balance of goods in October was estimated to have a deficit of 100 million USD. So, in the whole of October, the country saw a trade surplus of 7.04 billion USD, down by 3.8% compared to the same period last year.

According to the General Department of Customs, in October, many key export commodities tended to decrease compared to September.

For example, crude oil, worth 220 million USD, decreased by 170%; textile and garment reached 2.75 billion USD, down 3.3%; computers, electronic products and components reached 3.2 billion USD, down 8.1%; mobile phones and accessories reached 4.7 billion USD, down 13.5%; machinery, equipment, tools and spare parts reached 1.55 billion USD, down 3.4%.

However, some key export commodity groups still maintained high growth rates such as wood and wood products, and footwear.

In particular, wood and wooden products were estimated at 900 million USD, up 4.4% over the previous month, thereby bringing the total export turnover in 10 months to 8.4 billion USD, up 16.5% compared to the same period last year.

All kinds of footwear were estimated at 1.35 billion USD, up 2% over the previous month, bringing the total turnover of the first 10 months to 14.6 billion USD, up 11.2% over the same period last year.

120,000 foreign cars imported to Vietnam

Regarding imported goods, the remarkable product is that all-type automobiles continue to prosper.

In October, 13,000 cars were imported to Vietnam, worth 273 million USD, up 17% in volume and 8.6% in value over the previous month.

Accumulated in 10 months was 120,000 cars, valued at 2.66 billion USD, up 125% in volume and 122% in value over the same period last year.

Along with the growth momentum, there are also some key import groups such as: Chemical products are estimated at 480 million USD, up 3% over the previous month; plastic materials reached 754 million USD, up 5.2% in value; fabrics of all kinds were estimated at 1.2 billion USD, up 18.2%; machinery, equipment, tools and spare parts reached 3.1 billion USD, up 5.1%.

Like exports, in October, two electronic commodity groups in the import field also saw a decrease in turnover compared to the previous September.

Specifically, computers, electronic products and components reached 4.7 billion USD, down 0.5%; mobile phones and accessories reached 1.6 billion USD, down 3.5%.

Regarding the budget revenue situation, according to data from the State Treasury, the revenue from import and export activities in October reached 30,619 billion VND, an increase of 4,079 billion VND compared to September 2019.

Accumulated in the past 10 months reached VND 293.070 billion, equaling 97.5% of the estimate, up 14.85% (equivalent to an increase of 37,898 billion VND) compared to the same period of 2018.

By Thai Binh/Phuong Thao