Domestic firms outpace foreign invested peers in exports growth

02-Nov-2019 Intellasia | VNA | 6:02 AM Print This Post

Exports by domestic businesses have increased at a faster pace than that by foreign invested ones between January and October, according to the general Statistical Office (GSO).

Over the period, Vietnam records about 427.05billion USD in trade turnover, with a surplus estimated at some 7 billion USD.

The total turnover includes more than 217billion USD in exports and 210 billion USD in imports, respectively rising 7.4percent and 7.8 percent year-on-year.

The GSO highlighted a noteworthy point that thedomestic sector is gradually gaining its foothold when it posted an exportgrowth rate of 16.2 percent, much higher than the 3.9 percent by the foreign investedsector.

Additionally, exports by domestic businessesaccounted for 30.7 percent of the total export revenue in the 10 months, up 2.3percentage points from the same period of 2018.

The US remains the largest market as it purchases49.9 billion USD worth of goods from Vietnam over the 10 months, up 26.6percent from a year earlier, data show.


Category: Business, Vietnam

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