Exports continued to be affected by Covid-19, the trade surplus increased to 6.5 billion USD

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In 7 months, total import-export turnover of Vietnam decreased by 1.3% compared to the same period last year.

The Covid-19 pandemic continued to adversely affect Vietnam’s import and export activities. The General Statistics Office made such remarks when publishing data on Vietnam’s trade in goods in the past 7 months.

Specifically, in July, goods export turnover was estimated at US $ 23 billion, up 1.9% over the previous month, and slightly up from 0.3% over the same period last year.

Generally, in 7 months, export turnover of goods was estimated at 145.79 billion USD, up 0.2% over the same period last year. In particular, the domestic economic sector continued to be a bright spot with an estimated export turnover of US $ 50.76 billion, up 13.5%; the foreign invested sector (including crude oil) reached 95.03 billion USD (accounting for 65.2% of total export turnover), down 5.7%.

Despite the negative effects, the trend is gradually improving. Export has started to move up slightly over the same period, no longer decreased as in the previous months.

The General Statistics Office also stated that, in 7 months, there were 23 items with export turnover of over 1 billion USD, accounting for 87% of total export turnover. In particular, phones and components reached 25.7 billion USD, down 6.6% over the same period last year; electronics, computers and components reached 23.1 billion USD, up 24.3%; textiles and garments reached US $ 16.2 billion, down 12.1%; machinery, equipment and spare parts reached 12.4 billion USD, up 27.1%; footwear reached 9.5 billion USD, down 7.9%

Regarding the market, the United States is Vietnam’s largest export market in 7 months, with a turnover of 37.9 billion USD, up 15% over the same period last year. Followed by China, reaching 23.5 billion USD, up 18.4%; EU market reached 19.5 billion USD, down 5.9%; ASEAN market reached 12.8 billion USD, down 15.4

Meanwhile, in terms of import, the General Statistics Office said that the import turnover of goods in July 2020 was estimated at 22 billion USD, up 6.2% over the previous month.

Generally, in seven months of 2020, import turnover of goods was estimated at US $ 139.33 billion, down 2.9% over the same period last year. In which, domestic economic sector is 61.86 billion USD, up by 1.5%; FDI sector reached 77.47 billion USD, down 6.2%.

Because exports increased slightly, while imports fell more sharply, in seven months, total import and export turnover of goods in 7 months of 2020 was estimated at US $ 285.12 billion, down 1.3% over the same period last year.

On the other hand, the General Statistics Office said that the trade balance of goods in June 2020 had a surplus of 1.9 billion USD; 6 months of trade surplus 5.5 billion USD; July is estimated at trade surplus of 1 billion USD.

Generally, in 7 months of 2020, trade balance of goods was estimated at trade surplus of USD 6.5 billion. In particular, the domestic economic sector had a trade deficit of 11.1 billion USD; the foreign invested sector (including crude oil) saw a surplus of 17.6 billion USD.

Regarding the market, the General Statistics Office said that Vietnam had a trade surplus with the EU of US $ 11.2 billion, down 13.2% compared to the same period last year; trade deficit from China was 18.1 billion USD, down by 19.5%; trade deficit from South Korea was 13.6 billion USD, down 15.1%; trade deficit from ASEAN was 3.9 billion USD, up by 5.3%.

Source: tinnhanhchungkhoan.vn