Business

Vietnam’s exports rise sharply in 2021

Vietnam earned nearly 336.25 billion USD from exports in 2021, up 19 percent from the previous year, the Ministry of Industry and Trade (MoIT) reported on January 9.
Vietnam’s exports rise sharply in 2021 ảnh 1Vietnam earned nearly 336.25 billion USD from exports in 2021. (Photo: VNA)
Hanoi (VNA) – Vietnam earned nearly336.25 billion USD from exports in 2021, up 19 percent from the previous year,the Ministry of Industry and Trade (MoIT)reported on January 9.

Minister Nguyen Hong Dien said despite a slew ofdifficulties, the country’s export-import revenue still hit a new record of nearly 670 billion USD, a year-on-year rise of 23 percent.

Vietnam has maintained a trade surplus for the sixthconsecutive year, with a value of over 4 billion USD, mainly with developed,demanding markets like the US (with a trade surplus of about 80.1 billion USD)and Europe (close to 23.2 billion USD).

Deputy Minister Tran Quoc Khanh said the growth inexports has surpassed the target of 4-5 percent as set by the National Assemblyand the Government.

Last year, shipments of rawmaterials decreased, while the export volume of processed and industrial products increased, with  processed products accounting for 86.24 percent in the export structure.   
Vietnam’s exports rise sharply in 2021 ảnh 2Illustrative image (Source: VNA)
Good growth was seen in exports to markets engaging in FTAs with Vietnam like China (15 percent), the US (24.2 percent), the EU (14 percent), ASEAN (25.8 percent), the Republic of Korea (RoK) (15.8 percent), India (21 percent), New Zealand (42.5 percent) and Australia (3.1 percent).

Apart from traditional markets, Vietnam’s export tonew markets, particularly signatories of free trade agreement (FTAs), has alsoseen improvements, Khanh said, 

The Comprehensive and Progressive Agreement forTrans-Pacific Partnership (CPTPP) and the Vietnam-EU Free Trade Agreement(EVFTA) have proven effective as Vietnam’s export to the markets that aremembers of the pact expanded significantly./.


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