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Exports to China and the United States saw double-digit growth in June

21/07/2020

June export turnover to all markets saw positive growth compared to May, in which, exports to key markets such as China reached USD 19.5 billion, an increase of 17.4%; exports to the U.S. reached USD 30.3 billion, an increase of 10.3%.

The first 6-month report of the Ministry of Industry and Trade said that in the first 6 months of 2020, Vietnam's exports to ASEAN decreased by 14% compared to the same period in 2019; exports to the EU market decreased by 8.8%; Exports to Japan decreased by 2.3%.

The reason is that the COVID-19 pandemic has not been effectively controlled globally, especially in EU countries, the U.S., and some ASEAN countries such as Indonesia and Singapore.

The pandemic is still complicated along with enforcing measures to prevent the spread of the pandemic such as social isolation have adversely affected economic activities, especially commercial activities.

However, June export turnover to markets has a positive growth compared to May, thereby, it can be seen that Vietnam's exports are recovering with the advantage that the country with good control of the pandemic from early stages.

Remarkably, the two main export markets of Vietnam, i.e. China and the U.S., both had good growth. Specifically, exports to China reached USD 19.5 billion, up 17.4%; to the U.S. reached USD 30.3 billion, up 10.3% compared to the same period last year.

Besides, exports to CPTPP member countries' markets have positive growth such as exports to Australia increased by 2.3%; Chile increased by 1.6%; Mexico increased by 2.6% over the same period in 2019.

The accumulated export turnover of the first six months of 2020 is estimated at USD 121.2 billion, decreased by more than 1% compared to the first six months of 2019 (the same period increased by 7.2%). Particularly, export turnover in June 2020 is estimated at USD 21 billion, an increase of 9.5% over the previous month but a decrease of 2% compared to June 2019.

 

Kylie Nguyen

© 2019 Vietnam Bank for Agriculture and Rural Development No. 2 Lang Ha street, Ba Dinh district, Hanoi, Vietnam
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