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Export turnover increases 23.2%
The country's export turnover reached an estimated US$51.5 billion during the first nine months of the year, an increase of 23.2 per cent compared to the same period last year, reported the General Statistics Office.
The domestic sector earned $24.1 billion, a 19.7 per cent increase, while the foreign-investment sector fetched $27.35 billion (Including crude oil), a 26.5 per cent increase.
Export commodities earned more than $1 billion in revenue.
Coffee, cassava and cassava products, and crude oil declined in export turnover in comparison to the same period last year.
The country imported $60.1 billion in commodities during the first nine months, an increase of 22.7 per cent compared to the same period last year.
Imported commodities that earned the highest import turnovers included textiles, up 26 per cent ($3.84 billion); electronics, computer and computer accessories, 30.6 per cent ($3.509 billion); metals, 72.8 per cent ($1.832 billion); and plastics, 36 per cent ($2.726 billion).
According to the GSO, the trade deficit was restrained to $8.6 billion during the first nine months of the year, which accounted for only 16.7 per cent of the total export and import turnover.
The GSO's Commerce Department Director Le Minh Thuy said the current trade balance lacked equilibrium as export turnover rose due to inflated prices of several export commodities, including crude oil, cassava, coal, pepper and cashew nuts.
Gold and gold products accounted for a major proportion of export revenues. If the GSO did not include gold exports, the trade deficit during the first nine months of the year would have been $11.4 billion instead of $8.6 billion.
Thuy said tough policies concerning import controls needed to be implemented to ensure the efficient development of the export sector.
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