Vietnam’s export-import revenue in the first quarter of this year was estimated at 176.35 billion USD, up 14.37 percent year-on-year, of which 88.58 billion USD was from exports, a rise of 12.9 percent.
Deputy Minister of Industry and Trade Do Thang Hai speaks at the press conference. (Photo: VNA)
Hanoi (VNA) – Vietnam’s export-importrevenue in the first quarter of this year was estimated at 176.35 billion USD,up 14.37 percent year-on-year, of which 88.58 billion USD was from exports, arise of 12.9 percent.
Deputy Minister of Industry and Trade Do Thang Haitold a press conference in Hanoi on March 30 that in March alone, the exportvalue reached some 34.06 billion USD, up 45.5 percent month-on-month and 14.8percent year-on-year.
Vietnam sawincreases in both export volume and value, especially in agricultural products,crude oil, fertilisers and plastics.
Notably, up to 16 groups of commodities joined theover one-billion USD club, making up 83.4 percent of the combined exportturnover, of which five recorded an export value of more than 5 billion USD.
The country earned about 900 million USD from fisheryexport in March, a rise of up to 41 percent against the previous month and 22.4percent as compared with the same period last year, pushing the turnover in thefirst quarter to 2.4 billion USD, up 38.7 percent year-on-year.
Illustrative image (Source: VNA)
During the three-month period, the US was Vietnam’sbiggest buyer, with 25.57 billion USD in revenue. It was followed by China, theEuropean Union (EU), the Association of Southeast Asian Nations (ASEAN), theRepublic of Korea (RoK) and Japan.
The ministry forecast that Vietnam’s export willcontinue to bounce back thanks to the recovery of the global economy, the implementationof free trade agreements (FTAs) to which Vietnam is a signatory, and supportivepolicies.
The ministry will continue to support enterprises interms of market information, export promotion and the utilisation of the FTAs, itnoted./.
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A trade official has suggested companies work closely with shipping lines, airlines, and freight forwarders to monitor routes, transit times, and potential surcharges while exploring broader cargo insurance to cover risks like war and terrorism.
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The industry's performance has been powered by bold investments in modern production lines, enabling Vietnamese firms to produce complicated products which were exclusive to advanced economies.
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This is the second year the magazine has released the ranking, which is based on total revenue and key financial indicators of enterprises from seven countries in the region: Vietnam, Indonesia, Thailand, Malaysia, Singapore, the Philippines, and Cambodia.
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Deputy Minister of Industry and Trade Do Thang Hai speaks at the press conference. (Photo: VNA) 
Illustrative image (Source: VNA) 
