Import and export turnover up 83 per cent during Tết

The total value of Vietnamese imports and exports reached US$3.05 billion in the nine days of the Lunar New Year (Tết) holiday, growth of 83 per cent compared to last year’s Tết.

Exports doubled reaching $1.47 billion, accounting for 48 per cent of the total import and export value.

Imports reached $1.58 billion, accounting for 52 per cent of the total import and export value, up 68 per cent.

During this year’s Tết holiday, the main export items include phones and components, worth $631.3 million; followed by computers, electronic products and components; and machinery and equipment.

The total export value of the three largest commodity groups accounted for 76.1 per cent of the total export value.

Meanwhile, the main imported items were computers, electronic products and components with a value of $799.4 million, accounting for half of the total import value; phones and phone components; and machinery and equipment.

The three largest groups of items accounted for 72.5 per cent of the total import value during Lunar New Year.

Vietnamese goods were exported to 109 countries and territories, while Vietnamese goods were only available in 80 countries and territories during last year’s Lunar New Year.

Vietnamese goods exported the most to the Chinese market with a value of $400 million, accounting for 27.3 per cent of the total export value; followed by the US, South Korea, Hong Kong and Japan.

However, the General Department of Customs said that the total import and export value of the country reached $61.85 billion from the beginning of the year to February 6, down 10.5 per cent over the same period.

Exports reached a total value of nearly $31.26 billion, down 12.7 per cent year-on-year and imports reached a total value of $30.59 billion, down 8.2 per cent. The reason for the decline is that last year’s Lunar New Year fell at a different time. From the beginning of the year to February 6, Việt Nam had a trade balance surplus of $0.68 billion.