Wednesday, August 23 2017

VietNamNews

Việt Nam’s imports and exports both rise in H1

Update: June, 28/2017 - 17:20
Việt Nam’s export turnover increased 18.9 per cent to reach nearly $97.8 billion in the first six months of 2017. — Photo vneconomy.vn
Viet Nam News

HÀ NỘI — The total import-export turnover of Việt Nam has reached nearly US$200 billion in the first half of this year, while the country’s trade deficit was $2.7 billion.

Việt Nam’s export turnover increased 18.9 per cent to reach nearly $97.8 billion in the first six months of 2017, the Ministry of Planning and Investment reported.

In particular, exports of foreign-invested enterprises (excluding crude oil) are estimated at $69.26 billion, up 20.6 per cent over last year, accounting for 70.8 per cent of the country’s total export turnover. Including crude oil, this figure is $70.82 billion, up 20 per cent.

Meanwhile, domestic exports are estimated at $26.96 billion, up 13.8 per cent.

It is also worth noting that exports to the Chinese market grew strongly in the period, up 42.5 per cent, much higher than the growth of imports from this market, which is estimated at 16.8 per cent.

Exports from Việt Nam to nine other ASEAN member countries have seen significant improvements with positive export growth as well.

Total Vietnamese import turnover was estimated at $100.47 billion in the six months, rising by 24.1 per cent over the same period last year.

Imports of foreign-invested enterprises reached $60.6 billion, up 28.3 per cent and accounted for 60.3 per cent of the total import turnover of the country.

Domestic imports were estimated at $39.88 billion, up 18.2 per cent.

The trade surplus was $10.22 billion if including crude oil. The FDI sector, if excluding crude oil, had a trade surplus of $8.66 billion.

In contrast, the domestic sector estimates a trade deficit of $12.92 billion. — VNS

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