Vietnam’s exports in Q1 up 12.9 percent

Vietnam’s export-import revenue in the first quarter of this year was estimated at 176.35 billion USD, up 14.37 percent year-on-year, of which 88.58 billion USD was from exports, a rise of 12.9 percent.

Deputy Minister of Industry and Trade Do Thang Hai told a press conference in Hanoi on March 30 that in March alone, the export value reached some 34.06 billion USD, up 45.5 percent month-on-month and 14.8 percent year-on-year.

Vietnam saw increases in both export volume and value, especially in agricultural products, crude oil, fertilisers and plastics.

Notably, up to 16 groups of commodities joined the over one-billion USD club, making up 83.4 percent of the combined export turnover, of which five recorded an export value of more than 5 billion USD.

The country earned about 900 million USD from fishery export in March, a rise of up to 41 percent against the previous month and 22.4 percent as compared with the same period last year, pushing the turnover in the first quarter to 2.4 billion USD, up 38.7 percent year-on-year.

During the three-month period, the US was Vietnam’s biggest buyer, with 25.57 billion USD in revenue. It was followed by China, the European Union (EU), the Association of Southeast Asian Nations (ASEAN), the Republic of Korea (RoK) and Japan.

The ministry forecast that Vietnam’s export will continue to bounce back thanks to the recovery of the global economy, the implementation of free trade agreements (FTAs) to which Vietnam is a signatory, and supportive policies.

The ministry will continue to support enterprises in terms of market information, export promotion and the utilisation of the FTAs, it noted.