Seven commodities with export value hitting over $10 billion each

25-Nov-2021 Intellasia | VOV | 7:19 AM Print This Post

Vietnam has boasted seven commodities with an export turnover exceeding $10 billion each as of November 15 following the post-pandemic resumption of various businesses.

The first two weeks of November saw Vietnam rake in $14.61 billion from exports, raising the country’s total export value since the beginning of the year to $284.45 billion, a year-on-year increase of 17.7%.

Most notably, iron and steel joined the $10 billion export product club for the first time, alongside six other groups of commodities, namely phones and components, computers, electronic products and components, machinery, garments and textiles, footwear, and timber and wood products.

Among the key hard currency earners, phones and computers recorded the highest earnings of $48.8 billion and $43 billion respectively, while machinery and equipment ranked third with turnover of $31.77 billion.

They were followed by garments and textiles that grossed $27.52 billion and timber and wood products that bagged $12.67 billion in export value.

During the reviewed period the export value of iron and steel products by mid-November reached $10.27 billion, representing a year-on-year rise of 136.6%.

According to the Vietnam Steel Association (VSA), iron and steel exports since the beginning of the year have enjoyed a number of advantages, particularly as the consumption demand in several foreign markets has bounced back.

The recovery of the global construction markets has facilitated export activities of large local enterprises, including Hoa Phat, Nam Kim, and Ton Hoa Sen.

Robust export growth has also been recorded in markets such as Europe, the United States, Asean member states, and China. billion-each-a260383.html


Category: Economy, Vietnam

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