VN’s total exports, imports double 2011 figures

The Viet Nam Customs on December 19 will organize a ceremony to remark Viet Nam's total export and import turnover of US$400 billion, two times higher than the figure recorded six years ago.

According to the statistics of the Viet Nam Customs, under the Ministry of Finance, the nation's export and import value doubled after every four year (US$100 billion on December 1, 2017, US$200 billion on December 24, 2011 and US$400 billion at the end of 2017).

The achievements are attributed to the effectiveness of the Free Trade Agreements Viet Nam has inked with the Republic of Korea, the Eurasian Economic Union, ASEAN and the Regional Comprehensive Economic Partnership (RCEP).

The Foreign Direct Investment (FDI) poured in Viet Nam over the recent five years contributed US$60 billion to the export value.

In term of imports over the first 11 months of 2017, key import items include electronics, computers and accessories US$34 billion, machines and tools US$30.7 billion, phones and spare parts US$14.4 billion, fiber US$10.3 billion, iron and steel US$8.3 billion, plastic US$6.7 billion, petrol US$6.3 billion and textile materials and footwear US$5 billion.

In 2006, Viet Nam's total export and import turnover ranked 50thand 44th in the world. In 2015, the nation jumped 23 and 16 steps, occupying 27th and 28th positions, respectively.

The nation now has trade relations with more than 200 nations and territories around the world.

Deputy PM Vuong Dinh Hue forecasted that the nation's total export turnover may reach US$200 billion at the end of 2017.

Source: Online Newspaper of the Government of the Socialist Republic of Vietnam