Strong growth in exports in first five months
Strong growth in exports in first five months
Exports to key markets such as the United States, the European Union, China, ASEAN, and South Korea grew strongly in the first five months of the year.
In the first five months, Vietnam's export turnover reached $130.94 billion, up 30.7 per cent on-year
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According to the General Statistics Office, although the COVID-19 pandemic strongly spread in several provinces and cities, especially Bac Giang and Bac Ninh, commodity exports in May reached $26 billion, an on-year growth of 35.6 per cent and a slight decrease of 2.1 per cent against the previous month.
In the first five months, export turnover of goods reached $130.94 billion, up 30.7 per cent over the same period last year.
Accordingly, the domestic economic sector reached $33.06 billion, up 16 .6 per cent and accounting for 25.2 per cent of the total export turnover. Meanwhile, the foreign-invested sector reached $97.88 billion ((including crude oil), up 36.3 per cent, accounting for 74.8 per cent.
Notably, there were 22 items with an export turnover of over $1 billion, accounting for 87.3 per cent of total export turnover. There were six items with export turnover exceeding $5 billion, accounting for 63.8 per cent.
Heavy industrial and mineral products reached $70.7 billion, up 33 per cent compared to the corresponding period last year. Additionally, light industrial products and handicrafts were estimated at $47.32 billion, up 33 per cent, while the agricultural and forestry products reached $9.69 billion, up 13.5 per cent. Finally, seafood products reached $3.24 billion, up 12 per cent.
Most impressively, exports to key markets have reached record growth. Especially, exports to the US, Vietnam's largest export market, accounted for the largest portion with a turnover of $37.6 billion, up 49.8 per cent over the same period last year. This was followed by China with $20.1 billion (up 26 per cent), the EU with $16.1 billion (up 20.8 per cent), ASEAN with $11.5 billion (up 23.7 per cent), South Korea with $8.9 billion (up 17.1 per cent), and Japan with $8.4 billion (up 7.7 per cent).
