NEWS

On December 10, in Hanoi, the Goods Import and Export Guide Portal sponsored by the Danish Government, and the Trade Promotion Agency (Ministry of Industry and Trade) organized the construction under the technical assistance of the Center. International Trade (ITC) has officially operated.

The Ministry of Industry and Trade said that on December 11, the final minutes of the negotiation of the Vietnam - UK Free Trade Agreement (UKVFTA) will be signed.

If only in terms of pure numbers, the trade surplus of 20 billion USD is a good thing in the current context. But if the "dissection" more carefully, can see things of concern.

Gradually inching up along with the recovery of the economy, import and export turnover in the past 10 months reached approximately $ 440 billion, of which exports reached $ 229.27 billion and imports reached $ 210.55 billion. USD. Trade surplus has set a new peak with an export surplus of 18.72 billion USD, becoming a bright spot of Vietnam's economic growth.

The Ministry of Industry and Trade announced the results of import and export activities in the period from the beginning of 2016 to the third quarter of 2020. Accordingly, the Ministry of Industry and Trade assessed that export activities in the past period had achieved many positive and encouraging results.

Compared with the estimated trade surplus of 3.5 billion USD given by the General Statistics Office, the realized figure was only 2.96 billion USD because exports were lower than expected, while imports increased sharply.

Looking back three quarters of the year 2020, the economy is gradually flourishing, opening the hope of a recovery in the last months of the year.

Many businesses are confident in the prospect of export recovery in the last months of the year.

In the first 6 months of 2020, amid the destruction of Covid-19, exports from Vietnam were almost on par with India's. In fact, Vietnam's exports this year will still grow 3% on average, while India's exports have grown negative 24% during the same period.

Because some types of seaport service charges in Vietnam are lower than regional ones, especially container loading and unloading fees, this amount falls into the pockets of foreign shipping lines, which account for 99% of the volume. container import and export of Vietnam.

If in 1995 the import-export turnover between Vietnam and the US stopped at 450 million USD, by the end of 2019, this figure had reached nearly 76 billion USD (reaching 75.72 billion USD), about 168 times more than with 1995.

In 2019, Ho Chi Minh City had 5 items with an export value of over $ 1 billion. China is the largest export market of Ho Chi Minh City with a turnover of over 8 billion USD. Computers, electronic products and components accounted for the highest proportion of exports with 14.9 billion USD, accounting for 37.5% of total export turnover. This is also the highest import item with 13.4 billion USD.