Vietnam's Trade Volume Soars 28.1% in First Seven Months

SOCIALIST REPUBLIC OF VIET NAM Government News Kim Loan Trade volume soars by 28.1% in first seven months Trade volume soars by 28.1% in first seven months Of the figure, export turnover totaled US$319.53 billion, an increase of 21.7 percent from the same period last year while import value climbed 34.8 percent to US$340.05 billion, resulting in a trade deficit of US$20.52 billion. The foreign-invested sector remained the main driver of exports, generating US$255.89 billion, up 26.4 percent and accounting for 80.1 percent of the total export turnover. The domestic sector contributed US$63.64 billion, an increase of 5.8 percent. Manufactured goods continued to dominate the export structure with US$287.91 billion, followed by agricultural and forestry with US$22.79 billion, seafood with US$6.86 billion, fuel and minerals with US$1.97 billion. On the import side, the domestic sector imported goods worth US$92.14 billion, up 24.1 percent, while imports by the foreign-invested sector rose 39.2 percent to US$247.91 billion. Production inputs accounted for 94.1 percent of the total import value, equivalent to US$319.95 billion. Machinery, equipment, tools and spare parts came next (56.9 percent), followed by raw materials and fuels (37.2 percent), and consumer goods (5.9 percent). The U.S. remained Viet Nam's largest export market, with export turnover reaching US$104.7 billion, meanwhile China continued to be the largest goods supplier with import value of US$138.6 billion./. ONLINE NEWSPAPER OF THE GOVERNMENT OF THE SOCIALIST REPUBLIC OF VIET NAM Editor-in-chief: Nguyen Hong Sam License: No. 102/GP-BTTTT dated on April 15, 2024. Head office: No. 16, Le Hong Phong - Ba Dinh - Ha Noi Tel: 080 43162 – 080 48440; Fax: 080 48924 Email: [email protected]