Vietnam’s total import-export revenue hit 700 billion USD so far this year, exceeding last year’s record of 600 billion USD, reported the General Statistics Office (GSO).
Hanoi (VNA) – Vietnam’s total import-exportrevenue hit 700 billion USD so far this year, exceeding last year’srecord of 600 billion USD, reported the General Statistics Office (GSO).
The office said that the country continues to enjoy a tradesurplus that has maintained since 2012 (except for 2015 when the countrysuffered a deficit of 3.55 billion USD).
In the first 11 months of this year, Vietnam posted a trade surplusof 10.68 billion USD, of which the foreign-invested sector earned 468.7 billionUSD, up 12.1% year on year.
According to the GSO, over the years, the US has been thelargest export market of Vietnam, while China is the largest import market.
At the end of November, Vietnam exported 101 billion USDworth of goods to the US, a year on year rise of 17.7%. Meanwhile, it imported 109.46 billion USD worth of products from China, up 10%.
Experts attributed the results to the effectiveimplementation of institutional and administrative reform which has created afair, smooth and transparent business environment and offered a favourableconditions for the business community.
Data from the World Trade Organisation showed that in 2006,the Vietnamese economy ranked 50th in the world in terms of export and 44th in import. The rankings rose to 26th and 23rd,respectively, in 2018. Since then, Vietnam has been among the world top 30countries in the fields.
Among the ASEAN countries, Vietnam ranks the second in bothimports and export, only after Singapore in 2021.
In the 2002-2021 period, Vietnam’s total import-exportrevenue reached 5.14 trillion USD, with 4.11 trillion USD recorded in 10 years from 2012to 2021./.
Vietnam has been continuously listed among the group of 30 countries and territories with the largest import and export value on a global scale, according to the rankings compiled by the World Trade Organization.
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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.
In addition to institutional reform, the agency is also rolling out key solution groups to combat counterfeit goods, imitations, and intellectual property infringements in the digital environment.
Shrimp processing for export (Photo: VNA) 
