FDI firms drive trade turnover growth

16-Jan-2019 Intellasia | VOV | 6:00 AM Print This Post

Foreign direct investment enterprises accounted for 65.22 per cent of Vietnam’s total trade turnover in 2018, representing a 11.7 per cent on-year rise, according to the general Department of Vietnam Customs.

News outlet VnEconomy cited freshly-released statistics from the general Department of Vietnam Customs as saying the country’s trade turnover in 2018 amounted to $480.17 billion, an on-year rise of 12.2 per cent.

Notably, the trade turnover of foreign direct investment (FDI) enterprises reached $313.21 billion, equivalent to 65.22 per cent of the total and a 11.7 per cent on-year rise. Domestic firms contributed $166.96 billion to the total trade value, surging by 13 per cent.

Vietnam saw a trade surplus of $6.8 billion in 2018, a 3.2-fold increase on-year.

In particular, the country raked in $243.48 billion from exports, up by 13.2 per cent on-year. Of these, $171.53 billion was contributed by FDI enterprises, registering 70.4 per cent of the total export value, up 12.4 per cent on-year.

Telephones, garment and textiles, computers, machinery, and aquatic products topped the list of exports.

Meanwhile imports also enjoyed a strong year. Imports totalled $236.69 billion, an on-year hike of 11.1 per cent. The FDI sector held the largest proportion of nearly 60 per cent with $141.68 billion in import value, rising by 10.8 per cent on-year.

Computers, machinery, telephones, garments, and petrol were among the top import categories.

https://english.vov.vn/economy/fdi-firms-drive-trade-turnover-growth-390512.vov

 


Category: Economy, Vietnam

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