These high-performing groups of export merchandise included electronics, computers, and components; phones and phone parts; machinery, tools, and parts; textiles and garments; footwear; transportation vehicles and accessories; and wood and wood products.

Data from the General Statistics Office of Vietnam indicated that October alone saw the country’s trade with the rest of the world reaching US$61.62 billion, up by 5.6% over the same period last year.

However, when considering the cumulative data in January-October, total trade dropped by 9.6% year-on-year due to a 7.1% decrease in exports and a 12.3% fall in imports.

From January to October, the export revenue of 33 groups of products exceeded US$1 billion each, and these groups collectively accounted for 92.9% of the nation’s total export revenue.

The manufacturing and processing industry held the lion’s share, making up a substantial 88.3% of the total export revenue. The group of fuels and minerals made up 1.2%, while agricultural and forestry products contributed 7.9%, and seafood products constituted 2.6%.

Vietnam’s major trading partners continued to play a vital role in its trade dynamics. The U.S. remained the largest export market for Vietnam, with an estimated trade value of US$78.6 billion. On the import side, China took the lead as Vietnam’s primary source, contributing an estimated US$89.8 billion to the trade volume.

Source: Saigon Times