Vietnam’s goods export revenue is estimated to climb to more than US$39 billion in the first ten months, up 18.6 per cent on year, said the Ministry of Trade and Industry.
In October alone, export value is forecast to reach $4.2 billion, up 23 per cent on year and 11.4 per cent on-month.
Crude oil is the largest forex earner with turnover of $6.5 billion, followed by apparel ($6.4 billion), footwear ($3.2 billion), seafood ($3 billion), woodwork ($1.9 billion), electronics and spare parts ($1.73 billion), coffee ($1.55 billion), rice ($1.36 billion) and rubber ($1.1 billion).
In October, the sharp hike in export price has helped crude oil win back the position as the nation’s leading export commodity from apparel.
Exports of apparels, woodworks, electronics and spare-parts, electric wire and cable, plastics, coffee, cashew nuts and peppers saw growth rates of over 20 per cent.
Meanwhile, imports grew even faster to $8.6 billion in the January-October, which caused trade deficit to an estimated $9 billion by the end of the year.
Vietnam pumped $5.2 billion into imported goods in October alone, raising total import spending in the ten months to $48 billion, up 30.5 per cent on year.
The country spent the most the imports of finished cars, auto parts, finished steel and machines and equipments.
This year, Vietnam’s exports are forecast to reach $48.1 billion while imports spending may grow 30 per cent in the fourth quarter to hit $58.5 billion for the whole year.
Vietnam has set to achieve exports turnover of $58.6 billion next year, up 22 per cent on year, said the Ministry of Industry and Trade. (VietNamNet, Investment Review, VNS)
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