Garments, phones and elements, computers, electronic items and components, and industrial machinery were the four commodity groupings with export turnovers of $1 billion or more. According to media sources from the country, Vietnam earned $254 billion in exports and spent $256.45 billion in imports, resulting in a trade imbalance of $2.45 billion as of October 15.
According to the MoIT, the monthly balance of trade has steadily changed to a trade deficit since the beginning of the second quarter, and this trend appears to be reversing, with only a $100 million trade deficit recorded in August.
The trade balance will be highly influenced by the outcome of the ongoing battle against the COVID-19 epidemic, according to the MoIT, which will continue to deploy a variety of solutions to assist enterprises and boost exports.
Industry And Cluster | News & Insights
Vietnam’s overseas commerce is expected to hit $600 billion by the end of 2021, according to the Ministry of Commerce
Published: October 30, 2021
Author: Manali bhanushali
According to the Agency of Foreign Trade under the Ministry of Industry and Trade, Vietnam’s aim of $600 billion in foreign trade is likely to be realised by the end of the year, since national shipping activity had surpassed $510 billion by October 15. (MoIT). In the first half of October, its import-export turnover exceeded $26 billion, with exports accounting for $13.16 billion of that total.
