Illustrative image (Photo: VNA) This year, Vietnam’s total foreign trade turnover hit 668.5 billion USD, up22.6 percent year-on-year, of which exports reached 336.25 billion USD, up 19percent, and imports earned 332.25 billion USD, up 26.5 percent, Huong said ata press conference announcing socio-economic figures in the fourth quarter andthe whole year.
In Decemberalone, the country’s total import-export value was estimated at 66.5 billionUSD, up 6.4 percent month-on-month and 19.7 percent year-on-year.
This was a positive result in the context that the COVID-19 pandemic has beenaffecting negatively the national economy, she said.
In 2021, 35 commodities saw export turnover exceeding the 1 billion USDbenchmark, accounting for 93.8 percent of the total turnover, in which eightproducts posted over 10 billion USD in export turnover, accounting for 69.7percent.
The US was Vietnam’s biggest export market with a turnover of 95.6 billion USD,while China was Vietnam’s biggest import market with revenue of 109.9 billionUSD.
In 2021, Vietnam’s trade surplus with the EU was estimated at 23 billion USD,up 12.1 percent year-on-year, while the country posted a trade deficit of 54billion USD with China, up 53 percent.
In order to support businesses and promote exports in 2022, Minister ofIndustry and Trade Nguyen Hong Dien said that the ministry has been focusing onsolutions to strengthen and expand export markets, and paying attention toimplementing free trade agreements (FTAs) to effectively bring into full playtheir preferences and make the most of opportunities and minimise challenges.
The ministry will also prioritise export promotion activities and soon restoreexport markets after the COVID-19 pandemic is controlled, and closely monitorseach market to review and identify the types of goods that countries havedemand.
It will focus on implementing import-export administrative procedures inaccordance with the national and ASEAN single-window mechanisms to createfavourable conditions for associations and enterprises./.
VNA
