Vietnam Posts Exports up 29.7 per cent, Imports up 23.2 per cent in Jan-Nov

Vietnam Posts Exports up 29.7 per cent, Imports up 23.2 per cent in Jan-Nov

Vietnam's total export revenue is expected to increase by 29.7 per cent on-year to more than US$23.6 billion, and import spending will be up 23.2 per cent to US$28.06 billion in the January-November period of this year.

The eleven-month trade deficit was put at US$4.46 billion, accounting for almost 19 per cent of the country’s total export value in the period, which is slightly lower than the acceptable level of 20 per cent.

Regarding export revenues, the foreign invested sector was still the country’s leading exporter with total earnings swelling by 42.8 per cent on-year to US$13.05 billion since the beginning of the year. Local firms achieved a growth rate of only 16.4 per cent to US$10.55 billion. 

The eleven-month imports, meanwhile, cost the local invested sector a total of US$18.23 billion, up 23.2 per cent on-year. Spending by the foreign invested sector rose 23.5 per cent to US$9.84 billion.

• P.V