23 commodities see exports reach over $1 billion each

01-Aug-2020 Intellasia | VOV | 6:02 AM Print This Post

A total of 23 commodities recorded an export value of over $1 billion during the opening seven months of the year, accounting for 87 percent of the country’s total export turnover, the General Statistical Office reported.

The 23 export items include mobile phones and components, electronics, computers and components, garments and textiles, machinery, spare parts, footwear, timber and wood products, vehicles and spare parts, seafood, iron, and steel.

The reviewed period saw the country rake in approximately $145.79 billion from exports, representing an annual increase of 0.2%.

The domestic economic sector continued to represent a bright spot with export turnover rising by 13.5 percent to $50.76 billion. Meanwhile, the foreign invested sector reported a 5.7 percent fall to $95.03 billion, accounting for 65.2 percent of the country’s total export turnover.

According to the General Statistical Office, a number of positive signs have emerged for export activities as five Vietnamese dairy companies have been allowed to export their products to China, one of the largest potential markets in the world.

Despite the country’s vegetable and fruit exports to the northern neighbour plummeting due to the impact of the novel coronavirus (COVID-19), strong export growth has been recorded in other markets, such as the Republic of Korea, Thailand, Japan, and Taiwan (China).

Furthermore, the export of commodities is expected to pick up during the remaining months of the year once the COVID-19 pandemic is successfully brought under control in markets that are key trading partners for Vietnam.

Tran Thanh Hai, deputy director of the Import and Export Department, said the Ministry of Industry and Trade has been applying information technology to simplify administrative procedures, alongside deploying digital transformation in import-export activities to support local businesses.

Most notably, Vietnamese goods exported to the EU market are to be granted an electronic certificate of origin (C/O) immediately after the European Union-Vietnam Free Trade Agreement comes into effect on August 1.

https://english.vov.vn/economy/23-commodities-see-exports-reach-over-us1 billion-each-416715.vov


Category: Economy, Vietnam

Print This Post