Vietnam’s export turnover hit nearly 170 billion USD in the last eight months, a year on year increase of 7.3 percent, according to the Ministry of Industry and Trade (MoIT).

Processing fruit for export 

Thanks to contributions of the group of mobile phone and accessories, the country enjoyed a trade surplus of 1.7 billion USD in August, which brought the trade surplus for January-August to 3.4 billion USD.

 The US remains Vietnam’s biggest importer, buying 38.6 billion USD worth of goods, up 25.3 percent year on year.

 It was followed by the EU, China and ASEAN with 27.7 billion USD, 23.8 billion USD, and 17.3 billion USD, respectively. 

 In the eight months, the country spent 166.58 billion USD on imports, up 8.5 percent from the same period last year.

 Experts said enterprises need to tap incentives from free trade agreements Vietnam has signed and pay attention to ensuring regulations related to origin of goods to enjoy tariff preferences.

 The MoIT asked its import-export department to build import and export scenarios for markets and sectors, thus devising proper measures to promote exports.