During the January – September period, Vietnam exported some 260 billion USD worth of products, a year-on-year fall of 8.2%. Meanwhile, the country's imports totaled 238 billion USD, down 13.8% year on year.
The US was the largest export market of Vietnam with nearly 71 billion USD, while China was the largest import market of the Southeast Asian country with over 79 billion USD.
According to the Ministry of Industry and Trade, the drop in Vietnam’s exports was attributed to slow recovery of the global economy, falling demand and high interest rates in developed countries, coupled with a tightened monetary policy and high levels of inventory.
The ministry will continue to keep a close watch on the global economic situation, especially policy adjustments of large importers so as to give timely warnings to enterprises, and propose the Government to outline rational response policies.
Additionally, it will focus on renewing and enhancing trade promotion activities targeting new markets and potential ones, as well as support businesses to capitalize on free trade agreement’s preferences to bolster exports./.
