Export growth has been achieved in both areas. The domestic economic sector has seen a slight increase or decrease in the past few years, but this period has risen sharply (15.7%, or $ 5.13 billion). The foreign-invested sector is larger (71.7% of the total) and higher (up 18.9% or US $ 15.135 million)
With an export turnover of $ 133.5 billion in the first eight months of this year, exports are expected to reach $ 200 billion this year, far surpassing the $ 187- $ 189 billion plan.
Exports soar
Export growth has been achieved in both areas. The domestic economic sector has seen a slight increase or decrease in the past few years, but this period has risen sharply (15.7%, or $ 5.13 billion). The foreign-invested sector is larger (71.7% of the total) and higher (up 18.9% or US $ 15.135 million).
Over the past eight months, there have been 22 items worth over USD 1 billion, increasing 3 items (rubber, common metals, products, textiles and footwear), but one (pepper) , should be compensated to increase 2 items. There were 14 items with high turnover over the same period last year (over 400 million USD), of which 5 items increased by over 1 billion USD (computers, electronic products and components increased 4.44 billion USD, Phone accessories and parts increased $ 3.35 billion, machinery - equipment - tools - spare parts increased $ 1.88 billion, textiles and clothing increased $ 1.12 billion, footwear increased $ 1.11 billion USD).
In 7 months (not detailed data up to 8 months), there are 17 locations worth over $ 1 billion, of which 6 locations reached over $ 6 billion (the highest was HCMC with 19.85 billion USD, followed by Bac Ninh - USD 14.15 billion, Thai Nguyen - USD 14 billion, Binh Duong - USD 11.82 billion, Dong Nai - USD 9.27 billion, Hanoi - USD 6.6 billion).
From the eight-month result, total export turnover for 2017 is forecast to reach $ 200 billion, far exceeding the $ 187- 189 billion planned for 2017.
Imports increased sharply and shifted to trade deficit
Total imports in the last eight months have increased significantly over the same period last year (22.3%, or $ 24.73 billion). Of which, the domestic sector accounted for 40% and up 18.4%, or $ 8.43 billion; The foreign invested sector accounts for 60% and increases by 25.0%, or $ 16.3 billion.
In eight months, 24 items have been imported over $ 1 billion, up 3 items compared to the same period of last year (cashew nuts, paper and textile fibers). Of which, 7 items reached over 4 billion USD (machinery - equipment - tools and spare parts is 24.08 billion USD, computers and electronics products 22.08 billion USD). $ 8.74 billion of textiles, $ 7.42 billion of textiles, $ 5.96 billion of iron and steel, $ 4.85 billion of plastic materials and $ 4.46 billion of petrol.
As imports have increased in size and speed over exports, Vietnam has shifted from a trade surplus in the same period last year to $ 2.336 billion. The ratio of trade deficit to exports is 1.6%, lower than the plan of the whole year (3.5%).
The domestic economic sector continued to trade deficit, but higher than the same period last year, both in absolute terms ($ 16.41 billion against $ 13.11 billion), both in terms of trade deficit (43.4% compared to 40.1%). The foreign-invested sector continued to trade surplus, but in comparison with the same period last year, the trade surplus was lower than the absolute scale ($ 14.28 billion against $ 15.45 billion), both in terms of percentage Super exports (14.9% versus 19.2%).
Extrusion mainly to the markets of Europe - America (where technically - high technology), but tends to decrease; The trade deficit is mainly from Northeast Asia and Southeast Asia (where technology is not high) but tends to be higher.
Minh Nhung
Source: Investment Review
