Vietnam’s export turnover in the first eight months of 2021 rose by 21.5% year on year to US$212.5 billion, despite a decline of 5.4% in August, the General Statistics Office (GSO) reported on August 29.

The domestic sector contributed US$55.6 billion, accounting for 26.2% of the total and representing a year-on-year increase of 10.5%. The foreign-invested sector (including crude oil) made up 73.8% of the total, or US$156.8 billion, up 25.5%.

During the period, 30 export items recorded revenue of over US$1 billion each and together they accounted for 91.8% of the total shipments.

The group of industrial processing goods reeled in a largest share of total export earnings, with nearly US$189.3 billion, up 22.5% year on year. Meanwhile, agricultural and forestry products brought home US$15.4 billion (up 14.9%) and of aquatic products US$5.58 billion, up 7.1%.

The US remained the biggest export market of Vietnam from January-August, buying US$62 billion of Vietnamese goods, a year-on-year rise of 32.5%. China came second with US$32.7 billion, up 19.8%. The EU and ASEAN followed with US$26 billion and US$18.4 billion, increasing by 14.5% and 23.3%, respectively.

Meanwhile, the country spent US$216 billion on imports in the eight-month period, an annual growth of 33.8%, with China being the biggest source of imports.

The country posted a trade deficit of US$3.71 billion during the period.

Source: Nhan Dan Online