Customs clearance of import goods at the Kim Thanh border gate in Lao Cai province. In the first seven months, the national import value was estimated at 139.33 billion USD. — (Photo: haiquanonline.vn) Hanoi (VNS/VNA) — Vietnam achieved a trade surplus of 6.5 billion USD inthe first seven months of this year, including 1 billion USD in July, accordingto the General Statistics Office (GSO).
The foreign-invested sector, including crude oil, recorded a trade surplus of 17.6billion USD, the office said. However, the domestic economic sector had a tradedeficit of 11.1 billion USD.
The office also noted that in the first seven months, the export value wasestimated at 145.79 billion USD, up 0.2 percent over the same period lastyear.
Of which, the domestic economic sector continued to be the highlight withexport value at 50.76 billion USD, up 13.5 percent while the foreign-investedsector reached 95.03 billion USD, accounting for 65.2 percent of total exportvalue, down 5.7 percent year on year.
In July, the total export value was estimated at 23 billion USD, up 1.9 percentcompared to last month. Of which, 8.5 billion USD was from the domesticeconomic sector, up 2.6 percent month-on-month and 14.5 billion USD from theforeign-invested sector, up 1.5 percent.
During the first seven months, 23 goods saw an export value of over 1 billionUSD. Of which, the group of phones and components had the highest export valuewith 25.7 billion USD, but it fell by 6.6 percent over the same period last year.
The group of electronics, computers, and components followed with 23.1 billionUSD, up 24.3 percent, tagged along by textiles and garments with 16.2 billionUSD, down 12.1 percent.
Thegroup of machinery, equipment, and spare parts had an export value of 12.4billion USD, up 27.1 percent, and footwear with 9.5 billion USD, down 7.9 percent.
Exports of most agricultural products decreased compared to the same periodlast year, including fruit, vegetables, coffee, cashew, rubber and pepper. Onlyrice products gained a growth of 10.9 percent in export value to 1.9 billionUSD.
The US was Vietnam’s largest export market in the first seven months of thisyear with a value of 37.9 billion USD, up 15 percent year on year. Other largeexport markets included China, EU, ASEAN, Japan and the Republic of Korea.
Meanwhile, China was Vietnam’s largest import market with an estimated value of41.6 billion USD, down 1.8 percent year on year.
In the first seven months, the national import value was estimated at 139.33billion USD, down by 2.9 percent compared to the same period last year. Theimport value was 61.86 billion USD from the domestic economic sector, up by 1.5percent and 77.47 billion USD from the foreign-invested sector, down by 6.2 percent.
The Import-Export Department under the Ministry of Industry and Trade said Vietnam’simport and export of goods is expected to be better in the second half of thisyear because many countries have started easing disease control measures andopening markets to accelerate economic recovery.
In the second half of this year, the department expects the implementation ofthe EU-Vietnam Free Trade Agreement (EVFTA) to create more export opportunitiesfor Vietnam to the world's second largest market with a population of over 508million people and a 18-trillion-USD GDP.
However, the department also said that Vietnam’s trade activities wouldcontinue to face unpredictable factors because the disease is not controlledcompletely. Therefore, the country would face difficulties in achieving growthin export value as in previous years.
Next year, the national export value is forecasted to depend on the control ofthe pandemic and re-opening of the world economy, according to the Import andExport Department.
The Ministry of Industry and Trade would continue to implement measures toremove difficulties and boost production and export, it said.
The ministry has proposed to the Government many solutions not only to removedifficulties for trade and export but also to maintain efficient production,reported chinhphu.vn.
Of which, the ministry has put into operation a website on the EVFTAat //evfta.moit.gov.vn/ to help individuals and businesses studyissues relating to the EVFTA including an overview of the deal, this FTA'scommitments in key areas such as goods, services – investment and usefulinformation for exporters.
In addition, the ministry has applied information technology to reformadministrative procedures boosting exports.
At present, there are six online administrative procedures in the import andexport fields to connect to the National Single Window system while 11 otheradministrative procedures are carried out entirely online at level 4./.
VNA
