• CALL US : +91-422-4225333
  • WAPP : +91-9952412329

The Southern India Mills’ Association

Committed to Foster the Growth of the Textile Industry

Import-export turnover to go up by 13 %

Vietnam’s total import and export turnover in the first six months of 2018 is estimated to hit US$225.29 billion, showing a year-on-year rise of 13 %, according to the General Department of Customs.Of the figure, the export value is likely to reach US$113.93 billion since the beginning of this year, up 16% against the same period last year, while import value is calculated at US$111.36 billion, a rise of 10.2 %.
As a result, Vietnam will run a trade surplus of US$2.57 billion in the first half of the year.
In January-June, the country hopes to gross US$22.5 billion from exporting mobile phones and spare parts (up 15.4%) as well as US$13.42 billion from garment-textile (up 13.8%), nearly US$13.46 billion from computers, electronic products and components (up 15.7%), and US$3.96 billion from aquatic products (up 11%).
Also in the reviewed period, imports of computers, electronic products and spare parts are estimated at US$19.7 billion (up 14.3%), machinery, equipment and components US$16.15 billion (down 7.3%), mobile phones and spare parts US$5.97 billion (down 4.4%), and fabric US$6.43 billion (up 17.1%).
Vietnam’s trade surplus hit a record high of US$2.92 billion in 2017, according the Ministry of Industry and Trade.
The country had 29 groups of items whose export revenue exceeded US$1 billion, 20 groups with export turnover of above US$2 billon and eight groups with export value of more than US$6 billion.
2017 was considered a good year for Vietnam with its exports crossing the US$200 billion mark for the first time and ending at US$214.02 billion, a year-on-year increase of 21.2 % and well above the Government’s target.