Vietnam's trade surplus in the first nine months is estimated at 21.68 billion USD. (Photo: VNA) During the January –September period, Vietnam exported some 259.67 billion USD worth of products, ayear-on-year fall of 8.2%. Meanwhile, the country's imports totaled 237.99 billion USD, down13.8% year on year.
Regarding the structureof exported goods in the period, processed goods accounted for 88.3% of the totalexport value, with 292.22 billion USD. As for imported goods, materials for production made up 93.7% of the value, with 223.08 billion USD.
The US was the largest export market of Vietnam with 70.9 billion USD,while China was the largest import market of the Southeast Asian country with 79.1 billion USD.
According to the Ministry of Industry andTrade, the drop in Vietnam’s exports was attributed to slow recovery of the globaleconomy, falling demand and high interest rates in developed countries such asthe US, EU nations and China, coupled with a tightened monetary policy and highlevels of inventory.
The ministry will continue to keep a close watch on the global economic situation, especiallypolicy adjustments of large importers so as to give timely warnings toenterprises, and propose the Government to outline rational response policies.
Additionally, it will focus on renewing and enhancing trade promotionactivities targeting new markets and potential ones, as well as supportbusinesses to capitalise on free trade agreement’s preferences to bolsterexports.
It will also work to give early warnings on trade barriers that are possiblylevied by large import markets./.
VNA
