Saturday, 26 May 2018
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ECONOMYTRADE - SERVICE

Vietnam to have eight US$2-billion-dollar-export markets

Updated at Thursday, 17 May 2018, 15:55
The Hanoitimes - In April, Vietnam`s import-export turnover reached US$35.57 billion, down 11.1% compared to previous month, according to the General Department of Vietnam Customs.
Specifically, Vietnam's export turnover is estimated at US$18.37 billion, down 13.1% over the previous month, while import turnover accounted for US$17.20 billion, down 8.9%. 
 
Vietnam to have eight US$2-billion-dollar-export markets.
Vietnam to have eight US$2-billion-dollar-export markets.
For the first four months, total Vietnam's import-export turnover is posted at VND143.89 billion, increasing 14.3% compared to the same period of last year, in which export turnover contributed to US$73.89 billion, up 19.2% and import turnover of US$70 billion, up 9.5%. 

Also in this period, Vietnam has a total of 18 US$1-billion-dollar-export markets; in which 8 markets with turnover of over US$2 billion.

Among those US$1-billion-dollar-export markets, Vietnam's export turnover to India has the highest growth rate at 104.3%, mainly thanks to an increase of US$606 million in export turnover of machinery, equipment, and related accessories. 

On the contrary, only Malaysian market witnessed a reduction of 4% in export turnover in compared to the same period of 2017. 

In terms of import markets, in 4 months, Vietnam has 11 US$1-billion-dollar-import markets, including 07 US$2-billion-dollar-import markets. Out of those markets, Malaysia is at the top of having the highest growth rate in export turnover to Vietnam at US$2.47 billion, increasing 42.8% year on year. 

Additionally, Vietnam has an increase of 115% in importing petroleum products at US$768 million from Malaysia. 

Consequently, Vietnam has a trade surplus of US$1.16 billion in April, taking the figure in the first four months to US$3.89 billion.

Import-export turnover from the foreign direct investment (FDI) sector in April reached US$22.51%, down 15.6% over the previous month, resulting in total import-export turnover of the FDI sector in the first four months to US$93.92 billion, up 13.7%, equivalent to US$11.31 billion year on year. 

Export turnover of the FDI sector in April reached US$12.7 billion, down 16.7% compared to previous month, indicating the total export turnover of this sector in four months to US$52.44 billion, up 19.4% year on year. 

FDI's import turnover in April is reported at US$9.81 billion, down 14.1% compared to last month, taking this figure of the four months to US$41.48 billion, up 7.2% year on year. 

As a result, FDI's trade balance in April is reported at US$2.89 billion in surplus, resulting in a a surplus of US$10.96 billion in the first four months. 
Ngoc Thuy
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