Export turnover sees slight rise in 7 months

Hanoi (VNA) - Vietnam’s export turnover in the first seven months of 2020 hit an estimated 145.79 billion USD, up 0.2 percent year-on-year, according to the General Statistics Office.

The export value in July alone reached 23 billion USD, up 1.9 percent compared to the previous month and 0.3 percent over the same period last year.

The domestic economic sector was seen as a key contributor to the national export growth in the Jan-July period, bringing home 50.76 billion USD, up 13.5 percent. Meanwhile, the foreign-invested sector (including crude oil) raked in 95.03 billion USD, down 5.7 percent year-on-year.

The US remained the largest importer of Vietnamese goods, with a turnover of 37.9 billion USD in the last seven months, up 15 percent compared to same period last year. China was the runner-up with 23.5 billion USD, surging 18.4 percent.

Meanwhile, the markets that saw decreased export turnover included the EU (down 5.9 percent), ASEAN (15.4 percent), Japan (5 percent), and the Republic of Korea (0.4 percent).

Vietnam spent 139.33 billion USD on imports in the reviewed period, down 2.9 percent year-on-year. China was the biggest exporter to Vietnam with an estimated turnover of 41.6 billion USD, down 1.8 percent.

As a result, Vietnam enjoyed a trade surplus of 6.5 billion USD in the last seven months, the GSO said./.