|Vietnam's digital economy and e-commerce to grow sharply|
|Global economy struggles under COVID-19’s impact|
|US enterprises highly appreciate investment opportunities in Vietnam|
|Vietnam exported goods worth a total US$145.8 billion (Photo: Custom News)|
The General Statistics Office revealed that Vietnam exported goods worth a total US$145.8 billion in the first seven months of 2020, up by a slight 0.2% compared with the same period in 2019.
Meanwhile, imports fell by 2.9% to US$139.3 billion. This means that Vietnam has posted a trade surplus of US$6.5 billion during the period, according to Nhan Dan.
The exports of Vietnamese companies recorded strong growth at 13.5% to reach US$50.8 billion while exports by foreign-invested companies declined by 5.7% to US$95 billion, including oil revenue.
|The United States and China remained the biggest buyers of Vietnamese goods (Photo: Industry and Trade News)|
Imports by domestic companies rose 1.5% while those in the foreign sector fell 6.2%. From January - July, 23 categories of exports earned US$1 billion each, with a combined revenues accounted for 87% of Vietnam’s total exports.
The United States and China remained the biggest buyers of Vietnamese goods at US$37.9 billion and US$23.5 billion, respectively. Such figures represent respective increases of 15% and 18.4%.
The import turnover of goods in July was estimated at US $ 22 billion, up 6.2% over the previous month, of which, the domestic economic sector gained US $ 10.2 billion, up 5.9%, FDI sector reached 11.8 billion USD, up 6.5%.
Compared to the same period last year, import turnover in July 2020 was estimated to decrease by 2.9%, of which the domestic economic sector increased by 8.2%; FDI sector decreased by 10.9%.
|Import turnover of goods was estimated at US $ 139.33 billion (Photo: Investment Bridge)|
Generally, in 7 months of 2020, import turnover of goods was estimated at US $ 139.33 billion, down 2.9% over the same period last year, of which: domestic economic sector gained US $ 61.86 billion, increase by 1.5%; FDI sector reached 77.47 billion USD, down 6.2%, reported by Financial Magazine.
Decline in exports were recorded in most other major markets. Shipments to the EU reached US$19.5 billion, down 5.9%, while exports to ASEAN fell by a sharp 15.4% to US$12.8 billion.
Revenue from exports to Japan and Korea also fell by 5% and 0.4% respectively. China was the largest source of Vietnamese imports, estimated at US$41.6 billion, down 1.8%. Imports from Korea and ASEAN fell by 9.2% and 11.3%, respectively. Purchases from Japan, the US and the EU increased by 5.1%, 2.5% and 6%, respectively.
|Vietnam's agro-forestry-fishery exports reached US$3.4 billion in July |
Vietnam's agro-forestry-fishery exports reached US$3.4 billion in July, up 4.6% from the previous month. Meanwhile, according to the Ministry of Agriculture and Rural Development (MARD), ...
|Digital transformation offers more export opportunities to Vietnam |
According to Deputy Minister of Industry and Trade Cao Quoc Hung, a shift to digital platforms is considered an effective means for businesses to enlarge ...
|Vietnam's shrimp exports in the first six months up 5.7% |
According to the Vietnam Association of Seafood Exporters and Producers, in the first half of 2020, shrimp exports were up 5.7 per cent, reaching US$1.5 billion despite ...