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Vietnam’s export turnover up 21.5% in eight months

Vietnam’s export turnover in the first eight months of 2021 rose by 21.5% year on year to US$212.5 billion, despite a decline of 5.4% in August, the General Statistics Office (GSO) reported on August 29.

The domestic sector contributed US$55.6 billion, accounting for 26.2% of the total and representing a year-on-year increase of 10.5%. The foreign-invested sector (including crude oil) made up 73.8% of the total, or US$156.8 billion, up 25.5%.

Vietnam, export turnover, eight months, year-on-year increase,  foreign-invested sector, export items

Garment production for export to the US at Tien Thuan Garment Co., Ltd. in the south central province of Ninh Thuan.

During the period, 30 export items recorded revenue of over US$1 billion each and together they accounted for 91.8% of the total shipments.

The group of industrial processing goods reeled in a largest share of total export earnings, with nearly US$189.3 billion, up 22.5% year on year. Meanwhile, agricultural and forestry products brought home US$15.4 billion (up 14.9%) and of aquatic products US$5.58 billion, up 7.1%.

The US remained the biggest export market of Vietnam from January-August, buying US$62 billion of Vietnamese goods, a year-on-year rise of 32.5%. China came second with US$32.7 billion, up 19.8%. The EU and ASEAN followed with US$26 billion and US$18.4 billion, increasing by 14.5% and 23.3%, respectively.

Meanwhile, the country spent US$216 billion on imports in the eight-month period, an annual growth of 33.8%, with China being the biggest source of imports.

The country posted a trade deficit of US$3.71 billion during the period.

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Source: NDO/VNA

Vietnam, export turnover, eight months, year-on-year increase, foreign-invested sector, export items
 
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