According to the General Department of Customs, the country’s export turnover increased by 16.3 percent year-on-year to USD 114.2 billion in the reviewed period.

Twenty commodities have posted export revenue of over USD 1 billion so far. They included phones and components (USD 22.5 billion); computers, electronic products and components (USD 13.45 billion); textile-garment (USD 13.42 billion); machinery, equipment, tools and spare parts (USD 7.8 billion); and footwear (USD 7.79 billion).

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In terms of imports, the country spent USD 110.83 billion to import goods from January to June, up by 9.6 percent.

According to the Ministry of Industry and Trade (MoIT), domestic businesses reported a 19.9-percent rise in their exports by shipping USD 33.07 billion worth of goods abroad over the first half. Meanwhile, FDI enterprises earned USD 80.86 billion from exports, up 14.5 percent in the corresponding period last year.

The ministry said there are many favorable conditions for export throughout the rest of the year.

Agricultural and fishery exports often increase in the middle and peak at the end of each year. Industrial products with big export revenues, like textile-garment, footwear, and wood products, have entered their export season since the second quarter, it noted.

Additionally, the Comprehensive and Progressive Agreement for Trans-Pacific Partnership and the EU-Vietnam Free Trade Agreement, expected to take effect in 2019, have been already been catalysts for foreign direct investment that could help Vietnam further boost its production capacity, it added.

The ministry forecast this year’s exports at USD 236.6 billion, up 10 percent against 2017.

Source: VNA