Export turnover up 23.2%

Rice exported through Hai Phong Port.

The country's export turnover reached an estimated US$51.5 billion during the first nine months of the year, a year-on-year increase of 23.2%, reported the General Statistics Office.

The domestic sector earned US$24.1 billion, a 19.7% increase, while the foreign-investment sector fetched US$27.35 billion (including crude oil), a 26.5% increase.

Export commodities earned more than US$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 US$60.1 billion in commodities during the first nine months, a year-on-year increase of 22.7%.

Imported commodities that earned the highest import turnovers included textiles, up 26% (US$3.84 billion); electronics, computer and computer accessories, 30.6% (US$3.5 billion); metals, 72.8% (US$1.8 billion); and plastics, 36% (US$2.7 billion).

According to the GSO, the trade deficit was restrained to US$8.6 billion during the first nine months of the year, which accounted for only 16.7% 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 US$11.4 billion instead of US$8.6 billion.

Thuy said tough policies concerning import controls needed to be implemented to ensure the efficient development of the export sector. (VNA)

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