Exports and Imports on the Rise in July

Export turnover reached US$11.2 billion in July, a 1.7 percent increase from the previous month and a 9.8 percent rise against one year ago, according to the Ministry of Industry and Trade.

 

Import turnover posted US$11 billion, up 2.6 percent from June and 11.6 percent year-on-year. On the whole, the country enjoyed a trade surplus worth US$200 million this month.

 

Export and import turnover of the FDI business sector continued to rise higher than that of the domestic business sector. FDI businesses had a trade surplus of US$6.91 billion, while the trade deficit of domestic businesses reached US$7.65 billion.

 

Exports of the processing and manufacturing industry played a key role in the growth of overall export turnover when most products enjoyed export turnover increases. Export turnover of the industry soared 25.8 percent from the same month last year, accounting for 69.5 percent of the total export turnover. Of this, mobile phones earned the largest export turnover at US$11.63 billion, a year-on-year rise of 87 percent.

 

In spite of surging 8.9 percent from the previous month, export turnover of agricultural and fishery products dropped 7.2 percent from the same period last year due to price disadvantages and unfavourable climate conditions.