Trade turnover plunges in first half of September

Of the figure, the country’s export revenue was recorded at US$14 billion, down US$6.73 billion against the second half of August.

Most notably, key export items which secured a high growth rate since the beginning of the year endured a downturn in turnover between September 1 and 15.

Among them, computers, electronic products, and components brought back only US$2.57 billion; machinery, equipment, tools, and spare parts nearly US$2.2 billion; phones and components nearly US$1.9 billion; garments and textiles US$1.21 billion; and footwear US$623 million.

Meanwhile, several agricultural products maintained a relatively high growth rate in the reviewed period, including fruit and vegetables, seafood, coffee, rice exports, and cashew nuts.

On the contrary, imports between September 1 - 15 reached US$14.55 billion, down nearly US$3 billion compared to the second half of August.

Insiders attributed the decline to the impact of the recent typhoon Yagi which made landfall in several northern key economic localities, such as Hai Phong, Quang Ninh, Bac Ninh, and Bac Giang, leading to disruption to import and export activities at seaports.

Statistics indicate that since the beginning of the year through to September 15, the country's trade turnover surged by 15.9% year on year to reach US$540.7 billion, of which exports soared 14.7% to US$279.4 billion and imports rose 17.1% to US$261.3 billion.

According to the Ministry of Industry and Trade, Vietnamese export growth is likely to exceed the set target of over 6% and is expected to maintain double-digit growth this year.

From now until the end of the year, key Vietnamese export items to major markets such as Europe and the United States will face pressures from trade defense investigations, origin fraud, and technical barriers related to the environment, sustainable development, and green transformation.