11-month trade tops US$839 billion, surplus hits US$20 billion

VOV.VN - Vietnam’s foreign trade continued to expand strongly over the past 11 months of the year, with total import–export turnover hitting US$839.75 billion, a year-on-year increase of 17.2%, according to the National Statistics Office (NSO) on December 6.

Statistics show exports reached US$430.14 billion, up 16.1% from a year earlier. Of the total, the domestic business sector earned US$102.41 billion, down 1.7%, while foreign-invested firms, including crude oil exporters, brought in US$327.73 billion, up 23.1%.

Export earnings in November alone slipped 7.1% from October to US$39.07 billion.

In the January–November period, 36 items recorded export values above US$1 billion each, representing 94.1% of total exports. Eight of these surpassed the US$10 billion mark each, contributing 70.3% of total export turnover.

Processed industrial goods remained the largest export category, generating US$381.72 billion. They were followed by agro-forestry products with US$35.58 billion, seafood products with US$10.32 billion, and fuels and minerals with US$2.52 billion.

Meanwhile, Vietnam spent US$409.61 billion on imports, up 18.4% year on year. Domestic firms accounted for US$128.4 billion, up 1.7%, while foreign-invested enterprises imported US$281.21 billion, up 28%. Forty-seven import items exceeded US$1 billion each in value, including six categories surpassing US$10 billion each.

The United States was Vietnam’s largest export market, with turnover of US$138.6 billion and a trade surplus of US$121.6 billion, up 27.5%. The EU market generated a surplus of US$35.6 billion, up 10.4%, whereas Vietnam’s trade surplus with Japan fell sharply by 29.7% to just US$2 billion.

China continued to be Vietnam’s biggest import source with US$167.5 billion in value, resulting in a trade deficit of US$104.3 billion, up 38.1%. Vietnam also posted trade deficits of US$28.3 billion with the Republic of Korea (up 1.9%) and US$12.4 billion with ASEAN (up 46.3%).

Overall, Vietnam recorded a trade surplus of US$20.53 billion in the 11-month period, compared to US$24.38 billion a year earlier. The domestic sector ran a deficit of US$25.99 billion, while the foreign-invested sector posted a surplus of US$46.52 billion.

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