Suggestions for you

Vietnam's export turnover has exceeded USD 200 billion

03/08/2022

Accumulated over the first 7 months of the year, Vietnam's export turnover has exceeded USD 200 billion (reaching USD 216.35 billion) and increased by 16.1% over the same period last year.

According to the Ministry of Industry and Trade, although the country's commodity exports achieved impressive growth in the previous months, along with the favorable exchange rate (the USD exchange rate increased sharply while other foreign currencies such as euro, the Japanese yen fell, the dong was stable) had a favorable impact on Vietnam's exports, but the export turnover in July decreased compared to June mainly due to the decrease in export turnover of the group of agricultural, forestry and fishery products and the group of processed and manufactured goods.

In which, exports in July decreased by 7.7% compared to the previous month, reaching USD 30.3 billion, mainly due to the decrease in export turnover of the group of agricultural, forestry and fishery products (decreased by 7.4% compared to the previous month, in which the decrease was recorded in most agricultural products, except vegetables and rubber) and industrial and manufacturing products (decreased by 7.2% compared to the previous month).

Accumulated over the first 7 months of the year, export turnover has exceeded USD 200 billion (reaching USD 216.35 billion) and increased by 16.1% over the same period last year. In which, the domestic business sector increased sharply (17%), higher than the FDI sector (15.78%). This continues to show the efforts of domestic enterprises in restoring production and business and resumption of supply chains in the context of complicated developments of the pandemic.

Also according to the Ministry of Industry and Trade, the export turnover of group of agricultural, forestry and fishery products over 7 months reached USD 18.23 billion, an increase of 15% over the same period last year, accounting for 8.4% of total export turnover, becoming bright spot in the country's overall exports.

Export turnover of processed industrial products over the 7 months continued to make an important contribution to the overall growth rate of export activities with an estimated turnover of USD 185.8 billion, an increase of 16.1% over the same period last year and accounted for 85.9% of the total export turnover.

However, in July 2022 alone, the export turnover of this commodity group continued its downward trend compared to the previous month - decreased by 7.2% (previously in June it decreased by 9.1% compared to May), mainly due to the decrease in export turnover of some key commodities such as: computers, electronic products and components decreased by 22.6%; iron and steel of all kinds decreased by 23.3%; cameras, camcorders and components decreased by 15.4%.

 

Kylie Nguyen

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