Coffee exports increased by 7.7 percent year-on-year to 340 million USD. (Source: VNA) Hanoi (VNA) – Vietnam’s exportturnover in January 2018 reached 19 billion USD, a decrease of 3.3 percentagainst December 2017 but up 33.1 percent compared with the same period lastyear.
Export revenue of the domestic economicsector rose 31.6 percent while that of the foreign direct investment (FDI)sector expanded by 33.7 percent.
Items posting year-on-year increases inexport value included phones and spare parts; garments-textile; electronicproducts, computers and spare parts; footwear; machines; equipment and tools;wood and timber products; vehicles and spare parts; coffee; and fruit andvegetables.
However, export revenue of rubber and pepperdropped by 5.7 percent and 17.9 percent, respectively during the month.
China was Vietnam’s largest export marketwith a turnover of 4.5 billion USD, a 2.5-fold rise from the corresponding timelast year, followed by the US, the EU, the Association of Southeast AsianNations (ASEAN), Japan and the Republic of Korea.
Meanwhile, the country imported 19.3 billionUSD worth of goods in January, down 3 percent against December 2017 but up 47.4percent year-on-year. The import value of the domestic economic sectorincreased by 43.2 percent and the FDI sector jumped 50.4 percent.
Among the import items, phones and spareparts; electronic products, computers and spare parts; machines, equipment andtools; and oil and gas saw higher import values.
On the contrary, import revenue of autos,milk and dairy products fell 17.9 percent and 6.2 percent, respectively.
China remained the largest import market ofVietnam with turnover of 5.7 billion USD, up 45.6 percent year-on-year. It wasfollowed by the Republic of Korea, ASEAN, Japan, the EU and the US.
The numbers reflect a trade deficit of 300million USD in January. The General Statistics Office explained that businessesare importing more goods to serve production and consumption during theupcoming Tet holiday.
According to the Ministry of Industry andTrade, the country’s exports are set to face a range of difficulties in 2018such as global economic uncertainties, impacts of sudden changes in economicand trade policies of major economies like the US and the EU, impacts of geo-politicaltensions on the global financial sector and increasing supply resources.-VNA
VNA
