HANOI: The country’s exports are estimated to reach US$128 billion in the first nine months of this year, up 6.7 per cent year-on-year, according to the latest statistics from the General Statistics Office (GSO). Of which, the domestic sector contributed $37 billion, up 5 per cent, and the foreign-invested sector (including crude oil) made up $91.1 billion, up 7.4 per cent. However, in September alone, exports plunged 6.8 per cent to an estimated $15 billion compared to August due to a turnover reduction in several key export items such as telephones and components (down 17.4 per cent to $506 million), footwear (down 18.2 per cent to $200 million) and garments (down 7.1 per cent to $175 million.)
From January to September, the country spent $125.4 billion on imports, surging 1.3 per cent over same period of last year, with the foreign-invested sector making up $74 billion and the domestic sector accounting for $51.4 billion. A slight increase seen in both sector’s imports in nine months proved that local production was well on track to recover, the GSO said. In the period, Việt Nam enjoyed a trade surplus of $2.7 billion. Unsurprisingly, the foreign-invested sector obtained a trade surplus of $17.1 billion while the domestic sector suffered a trade deficit of $14.4 billion.
