Viet Nam’s Foreign Trade Exceeds US$500 Billion

10:54:59 AM | 10/29/2021

Viet Nam’s foreign trade volume exceeded US$500 billion so far this year, statistics show.

As of October 15, the exact volume was US$510.46 billion, up 23.6 percent compared to the corresponding period last year, reported the General Department of Customs.

Of the figure, export value rose by 18 percent to US$254 billion while import value soared by 29.6 percent to US$256.45 billion.

Export items witnessing high growth include machines, equipment and tools (up 43 percent), iron and steel (up 135.3 percent), computers, electronics and accessories (up 12.5 percent) and phones and spare parts (up 10.3 percent).

During the reviewed period, the foreign direct investment sector gained US$186 billion from exporting, up 21.7 percent and making up 73.2 percent of the nation’s total export value.

Viet Nam’s foreign trade may reach a new record of US$600 billion this year, according to the Ministry of Industry and Trade.

Source: VGP