Illustration image (Source: giaic.com)

Hanoi (VNA) - Vietnam’s exports are estimated to reach 128 billion USD in the first nine months of this year, up 6.7 percent year-on-year, according to the latest statistics from the General Statistics Office (GSO).

Of which, the domestic sector contributed 37 billion USD, up 5 percent, and the foreign-invested sector (including crude oil) made up 91.1 billion USD, up 7.4 percent.

However, in September alone, exports plunged 6.8 percent to an estimated 15 billion USD compared to August due to a turnover reduction in several key export items such as telephones and components (down 17.4 percent to 506 million USD), footwear (down 18.2 percent to 200 million USD) and garments (down 7.1 percent to 175 million USD.)

From January to September, the country spent 125.4 billion USD on imports, surging 1.3 percent over same period of last year, with the foreign-invested sector making up 74 billion USD and the domestic sector accounting for 51.4 billion USD.

A slight increase seen in both sector’s imports in nine months proved that local production was well on track to recover, the GSO said.

In the period, Vietnam enjoyed a trade surplus of 2.7 billion USD. Unsurprisingly, the foreign-invested sector obtained a trade surplus of 17.1 billion USD while the domestic sector suffered a trade deficit of 14.4 billion USD.

Agro-forestry-fisheries exports fetched an estimated 2.5 billion USD in September, lifting the total nine-month turnover to 23.3 billion USD, up 6 percent year-on-year.

According to the Ministry of Agriculture and Rural Development, agricultural exports during the reviewed period experienced a yearly rise of 7.2 percent to 11.1 billion USD.

Of this, coffee recorded the highest increase of some 40 percent in volume and 22 percent in value compared with same period of last year. Up to 1.39 million tonnes of coffee, valued at 2.48 billion USD, was shipped to overseas markets from January to September.

Pepper came next with 146,000 tonnes for 1.19 billion USD, up 31.5 percent in volume and 13.1 percent in value, respectively.

After suffering a temporary downtrend, tea and rubber bounced back, enjoying positive growth of 0.2 percent and one percent, earning 152 million USD and 1.1 billion USD, respectively.

However, the export of rice, which is a key farm produce in the country, dropped 16.4 percent in volume and 12.5 percent in value to 3.76 million tonnes and 1.69 billion USD, respectively. China remained the largest importer of Vietnamese rice with a 35.5 percent market share, followed by Ghana with 11 percent and Indonesia with 9.4 percent.

In this year’s nine-month period, shipment of seafood products brought home more than 4.9 billion USD, surging 4.3 percent year-on-year. The US, Japan, China and the Republic of Korea were the four main importers of Vietnamese seafood, making up 53.7 percent of the total export revenue.

👍 At the same time, forestry exports raked in 5.1 billion USD, equivalent to the value during the same time last year.-VNA