Export growth represents bright spot for national economy
VOV.VN - Vietnam posted a trade surplus of US$1.1 billion in October, with the export turnover of goods reaching US$27.3 billion, representing a rise of 1% over the previous month and 0.3% against last year's same period, according to the General Statistics Office (GSO).
Elsewhere, the import turnover of goods also stood at an estimated US$ 26.2 billion, marking a fall of 1.7% from the previous month and an increase of 8.1% compared to last year’s corresponding period.
Most notably, September witnessed the return of trade surplus with US$360 million after five consecutive months of experiencing a trade deficit.
These results show positive signs for the recovery of local businesses after a period of being negatively affected by the COVID-19 pandemic. However, the trade balance of goods still recorded a deficit of US$1.45 billion during the ten-month period.
Furthermore, the domestic economic sector posted a trade deficit of US$22.73 billion, while the foreign-invested sector racked up a trade surplus of US$21.28 billion.
Throughout the reviewed period, Vietnamese trade surplus with the EU hit US$17.9 billion, up 4%, while the country run a trade deficit of US$45.2 billion with China, up 63.2%.
The export turnover of goods during the reviewed period was estimated to be at US$267.93 billion, an increase of 16.6%, with 31 export items reaching a turnover of over US$1 billion, accounting for 92.4% of total export turnover.
With regard to the structure of export products, fuels and minerals fetched an estimated turnover of US$3.03 billion, followed by processed industrial products at US$238.81 billion, agro-forestry products at US$19.2 billion, and aquatic products at US$6.89 billion.
The United States remained as the country’s largest export market during the ten-month period with a turnover of US$76 billion, up 21.9%, followed by China, the EU, ASEAN, the RoK, and Japan.
Moreover, the import turnover of goods throughout the reviewed period was estimated to be US$269.38 billion, up 28.2% against the same period from last year.
China has been the largest Vietnamese import market with a turnover of US$89.4 billion, up 36.4% compared to the corresponding period from last year, trailed by the RoK, ASEAN, Japan, the EU, and the US.
