Viet Nam’s trade volume surges 13.7% in first quarter

The figure, released at a press conference held by the Ministry of Industry and Trade on April 4, includes US$102.8 billion in export turnover and US$99.68 billion in import value, up 10.6 percent and 17 percent, respectively.

Exports from the domestic economic sector were estimated at US$29 billion, an increase of approximately 15 percent compared to the same period last year. This growth outpaced the 9 percent increase recorded by the foreign direct investment (FDI) sector, which was estimated at US$73.8 billion. These figures indicate that the capacity and competitiveness of domestic enterprises are gradually improving.

In the reviewed period, Viet Nam earned US$9.8 billion from exporting agro-aquatic-forestry products, up 12.8 percent.

The export value of processed goods reached US$87.5 billion, a year-on-year increase of 11 percent, continuing to serve as the key driver of the country's export growth.

Several key export items—such as textiles and garments, footwear, computers, electronic products and components, as well as machinery, equipment, tools, and spare parts—achieved double-digit growth rates.

The U.S. remained the biggest importer of Vietnamese goods over the last three months, with US$30.5 billion, up 18.3 percent.

The EU was the runner-up with US$13.7 billion, up 12.5 percent, followed by China with US$13 billion, down 0.2 percent.

In March alone, Viet Nam's trade with the rest of the world stood at US$75.38 billion, up 16.8 percent against the previous month and up 15.3 percent in comparison with the same period last year.

This year, Viet Nam targets to raise export volume to US$450 billion, up 12 percent against the previous year. This target has been set in the context of a recovering global economy and Viet Nam's efforts to capitalize on the free trade agreements to which it is signatories./.