Saturday, April 13, 2024
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Home » Vietnam’s Foreign Trade Down 13.1 Pct in 8 Months

Vietnam’s Foreign Trade Down 13.1 Pct in 8 Months

by Leilani Sengtavisouk
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Vietnam posted an estimated foreign trade value of 435.23 billion U.S. dollars in the first eight months of this year, down 13.1 percent year on year, with a trade surplus of 20.19 billion dollars, according to the latest statistics of the country’s General Statistics Office.

Specifically, the export revenue stood at 227.71 billion dollars, down 10 percent, while the import revenue decreased 16.2 percent year on year to 207.52 billion dollars, the office said.

The United States remained Vietnam’s biggest importer with turnovers of 62.3 billion dollars, and China was its largest exporter with turnovers of 68.1 billion dollars over the period, according to the office.

Favorable conditions such as the existing free trade agreement (FTA) with Vietnam’s major market partners will have a positive impact on trade, investment and exports in the year-end months, online newspaper Cong Thuong (Industry and Trade) reported.

Source: Xinhua

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