Business

Vietnam’s export turnover up 7.3 percent in eight months

Vietnam’s export turnover hit nearly 170 billion USD in the last eight months, a year on year increase of 7.3 percent, according to the Ministry of Industry and Trade (MoIT).
Vietnam’s export turnover up 7.3 percent in eight months ảnh 1Processing fruit for export (Source: VNA)

Hanoi (VNA) - Vietnam’s export turnover hit nearly 170billion USD in the last eight months, a year on year increase of 7.3 percent,according to the Ministry of Industry and Trade (MoIT).

Thanks to contributions of the group of mobile phone and accessories, thecountry enjoyed a trade surplus of 1.7 billion USD in August, which brought thetrade surplus for January-August to 3.4 billion USD.

The US remains Vietnam’s biggest importer, buying 38.6 billion USD worth ofgoods, up 25.3 percent year on year.

It was followed by the EU, China and ASEAN with 27.7 billion USD, 23.8 billionUSD, and 17.3 billion USD, respectively.

In the eight months, the country spent 166.58 billion USD on imports, up 8.5percent from the same period last year.

Experts said enterprises need to tap incentives from free trade agreementsVietnam has signed and pay attention to ensuring regulations related to originof goods to enjoy tariff preferences.

The MoIT asked its import-export department to build import and export scenariosfor markets and sectors, thus devising proper measures to promote exports.-VNA
VNA
#export turnover #trade surplus #US #biggest importer #origin of goods #incentive #Vietnamplus #Vietnam News #Vietnam News Agency
Follow VietnamPlus

Related News

Foreign debts under Government’s control: Deputy PM

Foreign debts under Government’s control: Deputy PM

The Government’s foreign debts have been declining sharply and under the Government’s control, Deputy Prime Minister Vuong Dinh Hue said while chairing a meeting with leaders of some ministries, sectors and the National Financial Supervisory Commission in Hanoi on August 9.

See more

Loading rice for export at a port in Vietnam (Photo: VNA)

Exports hit new records following strong momentum

Vietnamese enterprises have set records across multiple areas, demonstrating strong export momentum that not only expands trade but also reinforces Vietnam’s position in global supply chains.

Products are promoted at the event. (Photo: VNA)

Vietnam connects resources to boost innovation, sustainable development

The Vietnam Innovation Summit, an annual international forum organised by InnoLab Asia, not only discusses policy and trends but also serves as a global bridge, bringing knowledge, resources, and cooperation opportunities from advanced innovation ecosystems worldwide to Vietnam.

Experts discuss at the seminar. (Photo: VNA)

CPTPP - Growth lever amid reciprocal tariff: Experts

The Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) is one of the first new-genereration free trade agreements (FTAs) to take effect, playing a vital role in Vietnam’s export growth, especially amid the impacts of the US’s tax policies, according to insiders.