Vietnamese economy sees bright spot in exports in the past ten months. (Source: baohoabinh)

Vietnamese economy sees bright spot in exports in the past ten months as seven items enjoyed export turnover of more than 10 billion USD and 31 items bagged export value of more than 1 billion USD.

The 31 items account for 92.6% of the country’s total export turnover, while the seven items made up 66.5%.

Of the seven items with export turnover of over 10 billion USD, five items increased by over 10% compared to the same period last year. Specifically, electronics, computers and components had the largest export value with 58.7 billion USD, up 26.1%.

Machinery, equipment, tools and other spare parts’ export value reached 43 billion USD, up 21.5%. Textiles and garments earned 30.6 billion USD, up 10.5%. Footwear bagged 18.6 billion USD, up 12.9%. Wood and wood products reached a value of 13.2 billion USD, up 21.2%.

In addition, many key export items achieved high growth rates such as: Coffee, 39.2%; plastic products, 30.5%; vegetables and fruits, 27.8%; rice, 23.5%; cameras, camcorders and components, 18.4%; iron and steel, 14.7% and seafood, 10.9%.

Among export groups, the highest growth rate in turnover belonged to the group of agricultural and forestry products with 24.7%. Items in the group of processed industrial products had a general increase of 14.4%.

In terms of markets, exports to the US increased by 24.2% while those to the EU rose by 16.4%.

In the ten months of 2024, China maintained its position as the largest two-way trade market with Vietnam, with turnover of 168.5 billion USD, a year-on-year increase of 21.1%; of which, exports reached 50.8 billion USD, up 2.1% (1.1 billion USD), while the trade deficit was 66.9 billion USD, up 68.5% (27.2 billion USD).

It was followed by the US, ASEAN, the Republic of Korea, the EU and Japan.