China represents largest import market of Vietnam over two-month period

03-Mar-2021 Intellasia | VOV | 5:02 AM Print This Post

China made up the nation’s largest import market during the first two months of the year with an estimated turnover of $17.3 billion, representing a year-on-year increase of 85.7%, according to data recently released by the general Statistical Office of Vietnam (GSO).

The Republic of Korea ranked second with a turnover of $8.4 billion, marking a rise of 6.7 percent compared to the same period from last year, followed by Asean, Japan, the EU, and the United States.

Throughout the reviewed period, import turnover stood at an estimated $47.26 billion, an increase of 25.9 percent over last year’s corresponding period, of which the domestic economic sector reached $15.62 billion, a boost of 16%, with the foreign-invested sector rising to $31.64 billion, a surge of 31.4%.

Most notably, there were 11 commodities in total which recorded an import turnover of over U$1 billion, accounting for 67.6 percent of the country’s total import turnover, while nine items had an export turnover of over $1 billion, making up 73.8 percent of the overall export turnover.

With regards to export markets, the US was the largest Vietnamese export market during the two-month period with a turnover of $14.2 billion, posting a rise of 38.2 percent on-year.


Category: Economy, Vietnam

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