Vietnam's 10-month export value up 16.6%

In the period, there are 31 commodities with export turnover of over US$1 billion, accounting for 92.4% of the total export value. Six commodities joined the US$10-billion export club, with their combined export value accounting for 63% of the total.

The export turnover of the manufacturing and processing sector, fuel and minerals, and agricultural and forestry products are estimated at US$238.8 billion, US$3.03 billion, and US$19.2 billion, up 17.3%, 16.6% and 15.1% year-on-year, respectively. Meanwhile, a slight decrease of 0.8% is seen in the export turnover of aquatic products, which raked in US$6.89 billion.

During January-October, the US was Vietnam's largest export market with a turnover of US$76 billion, up 21.9% over the same period last year. It was followed by China with US$44.2 billion (up 16.8%), the EU with US$31.7 billion (up 8.9%) and the ASEAN market with US$23 billion (up 21.3%).

The GSO also reported that Vietnam spent US$26.2 billion on imports in October, down 1.7% month-on-month and up 8.1% year-on-year.

The figure brought the country's total import value in the first ten months of 2021 to US$269.38 billion, up 28.2% year-on-year.

China was Vietnam’s biggest import market, with US$89.4 billion, up 36.4% year-on-year. It was followed by the Republic of Korea with US$45.5 billion (up 21.4%), the ASEAN market with US$33 billion (up 34.8%), and Japan with US$18 billion (up 9%).

In October, Vietnam enjoyed a trade surplus of US$1.1 billion. However, in the first ten months of 2021, the country posted a trade deficit of US$1.45 billion, in which the domestic economic sector recorded a trade deficit of US$22.73 billion.