Trade growth in Jan.-Nov. indicates recovery amid COVID-19

Trade indicators in January-November period indicates continued recovery amid COVID-19 pandemic.

According to the General Statistics Office (GSO) reported Monday that Viet Nam’s export value increased by 17.5 percent to US$299.67 billion in the first 11 months this year.

Meanwhile, the import volume was estimated at $299.45 billion in the reviewed period, a year-on-year increase of 27.5 percent.

As many as 43 export items had a total export turnover of at least US$1 billion each, said the GSO.  

The U.S. was the largest importer of Vietnamese goods with US$84.8 billion, up 22.2 percent. It was followed by China with US$50.5 billion, up 16.8 percent, the EU with US$35.7 billion, up 11.9 percent, ASEAN with US$25.9 billion, up 23.3 percent, the Republic of Korea (RoK) with US$20 billion, up 14.6 percent and Japan with US$18 billion, up 3 percent. 

China took was Viet Nam’s import markets, with US$98.5 billion, up 32 percent, followed by the RoK with US$50.3 billion, up 20.3 percent, ASEAN with US$37 billion, up 36.1 percent, Japan with US$20.3 billion, up 10.1 percent, the EU with US$15.5 billion, up 18.2 percent and the U.S. with US$14.2 billion, up 14.6 percent. 

In 11 months, the State sector reported a trade deficit of US$24.32 billion while the foreign-invested sector declared a trade surplus of US$24.55 billion.