Vietnam’s exports slow down
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Vietnam’s exports fell by 1.3 percent year-on-year in January to $20 billion as phone shipments fell sharply. Exports of phones were 27.5 percent down at $2.9 billion, according to the General Statistics Office. Computer and electronics exports fell 5 percent to $2.3 billion.
But exports of textiles and garments rose by 6.7 percent to $2.7 billion, footwear by 12.8 percent to $1.6 billion and machinery and equipment by 15.2 percent to $1.4 billion.
The U.S. was the biggest importer ($4 billion) followed by China ($3.8 billion) and the EU ($3.2 billion). The country’s Southeast Asian neighbors only accounted for $2 billion.
Meanwhile, Vietnam’s imports rose by 3.1 percent to $20.8 billion.
Last year exports were worth $244.72 billion, up 13.8 percent, and imports cost $237.51 billion, giving Vietnam its highest trade surplus ever of $7.21 billion.
Questions & Answers
Q.Which product categories saw increased export value in January, despite the overall decline?
Which product categories saw increased export value in January, despite the overall decline?
Textiles and garments increased by 6.7 percent, reaching $2.7 billion. Footwear exports rose by 12.8 percent to $1.6 billion, and machinery and equipment exports grew by 15.2 percent to $1.4 billion.
Q.What was the total value of Vietnam's exports in January and how did this compare to the previous year?
What was the total value of Vietnam's exports in January and how did this compare to the previous year?
Vietnam's exports totalled $20 billion in January. This figure represents a 1.3 percent decrease compared to the same period in the previous year, marking a slowdown in export performance.
Q.Which countries were the largest importers of Vietnamese goods in January?
Which countries were the largest importers of Vietnamese goods in January?
The United States was the largest importer, purchasing goods worth $4 billion. China followed with imports valued at $3.8 billion, and the European Union was the third largest at $3.2 billion.
Q.What was Vietnam's trade surplus for the previous year?
What was Vietnam's trade surplus for the previous year?
Last year, Vietnam achieved its highest trade surplus ever, amounting to $7.21 billion. This was calculated from total exports of $244.72 billion and imports costing $237.51 billion.
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