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By increasing exports to the US and China, Vietnam has a record export surplus of $ 20 billion in 11 months.
The report on the socio-economic situation in November and November 2020 from the General Bureau of Statistics said that Vietnam’s total export and import turnover in 11 months was estimated at 489 billion dollars, up 3.5% with the same last year’s period. In which, exports reached about 255 billion dollars, increased by more than 5% while imports reached more than 234 billion dollars, 1.5% more.
Accumulated in the first 11 months of the year, the export turnover of the foreign investment sector (including crude oil) increased by 7% and represented 71% of the total turnover. The turnover of the national economic sector has only increased less than 2%.
Exports of heavy industrial and mineral products or of light industry and handicrafts increased during the same period. In which, electronics, computers and components or machinery, equipment, tools and spare parts are export items with double-digit growth. In contrast, agricultural, forestry and aquatic products decreased during the same period (except rice).
In the first 11 months of the year, exports to the EU, ASEAN, South Korea and Japan decreased from 3% to 10%, only exports to the US and China continued to grow. The United States is Vietnam’s largest export market in 11 months with a turnover of almost 70 billion dollars, almost 26% more than in the same period last year. Then there’s China with $ 43 billion, up 16%.
In terms of imports, Vietnam increased imports by 1.5% in the first 11 months of the year, mainly due to the foreign investment sector. Overall, in 11 months, the domestic sector reduced imports by almost 10%, while foreign-owned companies increased imports by more than 9% during the same period.
China remains Vietnam’s largest import market in 11 months with an estimated turnover of almost 74 billion dollars, 8% more than in the same period. Imports from the EU increased by 4%, while imports from Korea, ASEAN, Japan and the US also decreased compared to 11 months ago.
In terms of commodity structure, Vietnam increased imports of electronic products, computers and components, phones and components, plastic products, chemicals, and reduced imports of goods such as fabrics, plastics and steel. , automobile, base metal.
Quynh Trang
