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Industrial manufacturing exports nearly reach US$183 billion in first ten months

SGGP
According to statistics of the Ministry of Industry and Trade, 10-month export turnover was estimated at US$217 billion, an increase of 7.4 percent over the same period last year, of which, industrial manufacturing contributed most to growth with $182.9 billion.

Industrial manufacturing exports nearly reach US$183 billion in first ten months

Statistics showed that there were 29 products with export turnover above $1 billion, of which, five products with export turnover of above $10 billion, accounting for 59.4 percent, belong to industrial manufacturing group.

Specifically, export turnover of cell phones and components hit $43.5 billion, accounting for 20 percent of total export turnover, an increase of 5 percent over the same period last year. Electronic products, computers and components exports reached $28.8 billion, an increase of 17.1 percent. Exports of garment and textile products ranked third with $27.4 billion, an increase of 8.7 percent. Exports of footwear, machinery, devices, tools and spare parts both touched $14.6 billion, an increase of 11.2 percent and 7.6 percent, respectively.

Products with decreasing export turnover were mainly agricultural products. For instance, seafood exports reached $7 billion, down 3.4 percent; fruits and vegetables export turnover was at $3.1 billion, down 5.8 percent; exports of cashew nut touched $2.7 billion, down 3.8 percent; and rice exports got $2.4 billion, down 7.8 percent.

The Ministry of Industry and Trade explained that export turnover of agricultural products declined as export to China has been still facing difficulties. Enterprises have not adapted to new technical barriers that China has applied since the beginning of this year. By the end of October, export turnover to China reached $32.5 billion, a decrease of 2.9 percent.

The US continued to be the largest export market of Vietnam with export turnover hitting $49.9 billion, an increase of 26.6 percent over the same period last year. The EU market followed with $34.2 billion, down 1.9 percent. The ASEAN market came in third with $21.3 billion, an increase of 2.6 percent. Japan and South Korea both reached $16.6 billion, an increase of 7.5 percent and 9 percent, respectively. 

Meanwhile, import turnover in the first ten months of this year was estimated at $210 billion, an increase of 7.8 percent over the same period last year.

By Minh Xuan, Han Ni – Translated by Thuy Doan

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