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Wednesday, July 24, 2024

Vietnam’s exports rise 2% in Jan-Apr period

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HCMC – Vietnam exported US$80.8 billion worth of products in the first four months of the year, inching up 2% over the same period last year, despite challenges raised by the global health crisis, according to the General Department of Vietnam Customs.

Data from the customs agency singled out some groups of products that were the main contributors to the nation’s export growth in the four-month period, including computers and electronic parts, machinery, equipment and tools.

Specifically, the group of computers, electronics and components recorded export sales worth over US$12 billion during the year up to April, rising as high as 26% compared with the year-ago figure. With this impressive growth, this group outpaced the group of textiles and garments to become the nation’s second largest export earner.

The four-month period saw outbound sales of computers and electronics to China soaring a staggering 40% against the year-ago period to hit US$3.4 billion.

The group of machinery, equipment and tools earned an export value of US$6.7 billion, improving 27% versus the 2019 figure.

Besides this, other groups such as toys and sport equipment; electric wires; and wood and wooden products saw their export value rising 76%, 38% and 5% in the four months, respectively.

Meanwhile, many items saw a slowdown in export sales over the four-month period due to the spread of the coronavirus pandemic. Some even recorded negative growth for exports such as smartphones and accessories, textiles and garments.

Despite being the largest export earner, smartphones and accessories saw their export value falling nearly 4% versus the year-ago period, totaling US$15.3 billion. Outbound sales of these products to the European Union, the United States and South Korea dipped by 4.5%-24%.

The negative impact was also felt in the group of textiles and garments, which is among the top three export earners. Its export value in the four-month period dropped over 8% year-on-year to some US$8.6 billion.

The United States remains the largest buyer of Vietnamese textiles and garments, with the value reaching US$3.95 billion, which is down some 10% over the 2019 figure.

The groups of farm produce and aquatic products also experienced a downward push in export value.

Further, in April alone, the country’s total import-export turnover reached only US$36 billion, dropping a staggering 22% month-on-month.

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