2020 trade surplus estimated at 7 billion USD
Export revenue in 2020 is estimated to reach 267 billion USD while imports are to reach 260 billion USD, resulting in a trade surplus of some 7 billion USD. Experts said 2020 has been a tough year for all economic sectors, but foreign trade has been profitable.
The trade surplus in the first 11 months of this year was a record over 20 billion USD, while total export-import revenue hit 489 billion USD, up 3.5 percent year-on-year, with export revenue rising 5.3 percent to 254.6 billion USD.
Notably, 31 products posted exports of over 1 billion USD, accounting for 92 percent of total revenue.
Many businesses have changed their marketing methods from business-to-business to business-to-consumer, optimising connectivity tools such as websites, Google, Facebook, Pinterest, Instagram, and YouTube.
According to the Ministry of Industry and Trade with trade of over 500 billion USD, trade promotions should be strengthened by optimising spending and applying information technology./.
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