Seven export commodities earn more than US$1 billion each in January
Vietnamese exports in January witnessed a surge of 1.6% to US$29 billion in value against the same period last year, with seven groups of commodities earning over US$1 billion each, accounting for 63.3% of total export turnover, according the Ministry of Industry and Trade.
Among the leading commodities, phones and components fetched US$4 billion, trailed by computers, electronic products and components (US$3.5 billion) and textiles and garments (US$3.3 billion).
The agro-forestry-fisheries sector raked in approximately US$2.67 billion, representing an annual rise of 21.4%. Other export commodities secured high growth, including seafood, coffee and pepper earning US$870 million, 395 million, and 71 million respectively.
Most notably, the group of industrial processing products brought in US$24.95 billion, edging up 0.2% year on year and accounting for 86% of total export turnover.
Experts said the effective utilisation of free trade agreements (FTAs), especially new-generation FTAs such as the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), the EU-Vietnam Free Trade Agreement (EVFTA), and the UK-Vietnam Free Trade Agreement (UKVFTA) has resulted in impressive export growth in the first month of the year.
In addition, the enforcement of the Regional Comprehensive Economic Partnership (RCEP) early this year is anticipated to provide fresh impetus for Vietnamese export growth moving forward.
Meanwhile, Vietnam spent US$29.5 billion on importing goods in January, a year-on-year rise of 11.5%.
Although the domestic economic sector recorded a trade deficit of roughly US$2 billion, the foreign-invested sector racked up a trade surplus of US$1.3 billion in January.
