Data newly released by the General Statistics Office showed that Việt Nam’s export and import turnover of goods surpassed the mark of US$550 billion after 10 months of this year.

Specifically, merchandise export turnover in the past month was estimated to reach $32.31 billion, up 5.3 per cent compared to the previous month.

Of this, the domestic economic sector reached $8.49 billion, an increase of 5.7 per cent; the foreign-invested sector (including crude oil) reached $23.82 billion, up 5.2 per cent.

Compared to the same period last year, the export turnover of goods for this month rose by 5.9 per cent, of which the domestic economic sector increased by 15.1 per cent, and the foreign-invested sector (including crude oil) grew by 3 per cent.

In the first 10 months of 2023, merchandise export turnover was estimated to reach $291.28 billion, down 7.1 per cent over the same period last year.

Of this, the domestic economic sector reached $77.09 billion, down 4.1 per cent, accounting for 26.5 per cent of the total export turnover; the foreign-invested sector (including crude oil) reached $214.19 billion, down 8.1 per cent, accounting for 73.5 per cent.

Conversely, the import turnover of goods in October was estimated to reach $29.31 billion, up 2.9 per cent compared to the previous month.

Of this, the domestic economic sector reached $10.36 billion, up 3.7 per cent; the foreign investment sector reached $18.95 billion, up 2.4 per cent.

Compared to the same period last year, import turnover for the month rose by 5.2 per cent, of which the domestic economic sector increased by 8.5 per cent; the foreign-invested sector grew by 3.5 per cent.

In the first 10 months of this year, the import turnover of goods was estimated to reach $266.67 billion, down 12.3 per cent over the same period last year.

Of this, the domestic economic sector reached $95.08 billion, down 10.3 per cent; the foreign-invested sector reached $171.59 billion, down 13.3 per cent.

Regarding the export and import market of goods over the 10 months, the US was Việt Nam’s largest export market with an estimated turnover of $78.6 billion. China was Việt Nam’s largest import market with an estimated turnover of $89.8 billion.

The trade balance of goods in October was estimated to have a surplus of $3 billion. Overall, the trade balance of goods was estimated to have a surplus of $24.61 billion for the first 10 months of this year, whereas the same period last year saw a trade surplus of $9.56 billion.

Of this, the domestic economic sector’s trade deficit was $17.99 billion; the foreign-invested sector (including crude oil) had a trade surplus of $42.6 billion.

Viet Nam News