Export-import growth hits 10-year high

Tuesday, May 04, 2021 17:25

A shrimp processing line for exports. — VNA/VNS Photo Vu Sinh

Viet Nam witnessed the growth of exports and imports in the first four months of 2021 hitting a 10-year record high, data of the General Statistics Office (GSO) shows.

From January-April, exports totalled US$103.9 billion, an increase of 28.3 per cent against the same period last year.

The domestic sector exported $25.76 billion worth of goods and services, up 12.8 per cent year-on-year and accounting for 24.8 per cent of the total overseas shipments, while the foreign-invested sector contributed $78.14 billion, up 34.4 per cent and representing 75.2 per cent of the total.

Highest growth was seen in the heavy industry and mining sector, which generated $57.58 billion in export revenue, a year-on-year rise of 33 per cent. It was followed by the light and craft industries, 27.5 per cent; and agriculture and forestry, 8.8 per cent.

The US was Viet Nam’s largest buyer during the period, with a value of $30.3 billion, up 50.1 per cent year-on-year. China came second, purchasing $16.8 billion worth of goods and services from Viet Nam, up 32.4 per cent; followed by the EU, $12.6 billion and 18.1 per cent.

Four-month imports rose by 30.8 per cent from a year earlier to $102.6 billion. Some 93.9 per cent of the imports were capital goods, worth a total of $96.31 billion, up 31.4 per cent. The remainder was consumer goods, valued at $6.3 billion, up 22.5 per cent.

China remained as Viet Nam’s biggest seller with $33.1 billion worth of goods and services shipped to Viet Nam, up 47.8 per cent year-on-year, followed by the Republic of Korea ($16.9 billion), ASEAN ($14.1 billion), and Japan ($7.2 billion).

The GSO also reported trade surplus of $1.29 billion and total retail sales of goods and services of close to VND1.7 quadrillion ($73.5 billion) in the first four month of the year, up 10 per cent year-on-year. — VNS

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