Export of manufactured, processed industrial goods up 15.4%

Vietnam’s export turnover of processed and manufactured industrial goods hit nearly 192 billion USD in the first seven months of 2024, up 15.4% year-on-year, the Ministry of Industry and Trade (MoIT) has reported.

Many groups of products recorded high growth such as cameras, camcorders, and components (51.5%); and computers, electronic products, and components (30%).

Notably, despite a decline in exports to major markets, businesses in these groups have proactively sought solutions to diversify markets. As a result, export turnover to countries in Africa, Eastern Europe, Northern Europe, and Western Asia has increased.

However, the inventory index for the processing and manufacturing industry as of June 30 was estimated to increase 7.6%, compared to the previous month, and 9.6% compared to the same period last year. Meanwhile, the consumption index in June decreased 4.3% compared to May, but rose 10.5% year-on-year.

Experts said that expanding the market for processed and manufactured industrial products is considered a top priority for maintaining economic growth in the context of increasing inventory levels./.