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Friday, July 19, 2024

Vietnam sees exports rebound

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HCMC – After experiencing a sharp fall in exports in April due to the coronavirus pandemic, Vietnam saw the revenue from exports amount to US$19.2 billion in May, rising by 9.1% month-on-month, according to data released on June 17 by the General Department of Vietnam Customs.

Vietnam’s import and export revenue reached US$37.4 billion in May, up 3.5% or US$1.3 billion, month-on-month.

Despite the rally of exports, the country’s import turnover in May edged down by 1.9% month-on-month to US$18.2 billion.

In May, the country enjoyed a trade surplus of over US$1 billion, supported by the sturdy rise in the export of phones, computers and textiles and garments.

Vietnam sold phones and phone parts worth US$1.93 billion last month, up 17.1% month-on-month, while the country’s revenue from computers and components totaled US$3.4 billion, increasing by 11.9% against the previous month. The textiles and garments sector also achieved export growth of 16% versus April.

In addition, two other product groups — machines and footwear — fetched an export value of over US$1 billion each in May.

Vietnam’s exports to the United States, the European Union and ASEAN grew by US$700 million, US$502 million and US$22.8 million, respectively.

Over the first five months, Vietnam shipped goods worth US$16 billion to China, up 17.9% year-on-year.

Between January and May, the import and export revenue of Vietnam amounted to US$196.9 billion, down 2.8% year-on-year. Over the five-month period, the country earned US$100.2 billion from exports, inching down by 0.9% year-on-year.

By Le Hoang

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