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Vietnam’s trade turnover exceeds US$ 400 billion

Vietnam’s total import-export turnover has surpassed US$ 400 billion, according to the General Department of Vietnam Customs.

(Illustrative photo:SGGP)

(Illustrative photo:SGGP)

The country’s total import-export value reached US$ 403.05 billion from the beginning of the year to October 15, a year-on-year increase of 8 percent, equivalent to an increase of US$ 30.02 billion over the same period last year.

The department said that in the first half of October, total import and export value reached nearly US$ 21 billion, down 12.8 percent compared to the second half of the previous month.

Although Vietnam recorded a trade deficit in the first period of this month, the overall figure for the year up until October 15 was a trade surplus of US$ 6.83 billion.

The country’s total export value in the first half of October reached US$ 10.31 billion, down 18.9 percent, US$ 2.4 billion less than the last 15 days of September.

Exports in the first half of October decreased in some major commodities including mobile phones and spare parts, computers and components, and textiles and garments.

Imports in the 15 days reached US$ 10.68 billion, down 5.9 percent or US$ 674 million lower than the figure in the last 15 days of the previous month.

Compared to the second half of September, imports decreased in some items such as computers, electronic products and components, telephones and components and crude oil.

From the beginning of the year until October 15, total export value reached US$ 204.94 billion, up 8 percent, equivalent to an increase of US$ 15.18 billion over the same period last year.

From the beginning of the year to October 15, total import value hit US$ 198.11 billion, up 8.1 percent, US$ 14.85 billion higher than in the same period last year.

Experts said that the country's exports would continue to grow with the main motivation from traditional industries such as textiles, footwear and furniture.

Besides, exports often increase in the last months of the year as this is the peak period for shopping for consumer goods during holidays at the end of the year.

Looking at the past performance results, the goal of achieving turnover of US$ 500 billion this year was entirely feasible, experts said.

VNA

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