According to the General Statistic Office, the country achieved an export value of US$25.98 billion over the past eight months, a 24.3 per cent increase from last year. The high increase resulted from 20 percent or more increases in the earnings from 14 out of the country's 27 exported products.

Export revenues of seven export staples exceeded US$1 billion mark. They included crude oil, which earned more than VND5.7 billion; garments and textiles (more than US$3.9 billion), footwear (more than US$2.4 billion), aquatic products (more than US$2 billion), rice (more than US$1 billion), electronic products and computers (more than US$1 billion), and wooden products (more than US$1.2 billion).

The achievements of the import-export sector reflected the increase of US$5.07 billion in export turnover while import value increased by only US$4.25 billion. As a result, the trade deficit reduced to 10.4 per cent in the first eight months of this year, down from 18.8 per cent in the same period last year.

The import of petrol, urea fertilizer, steel ingots, auto, and motorbike parts and accessories, and materials and accessories for the textile and garment industry dropped sharply compared to the same period last year.
Foreign direct investment (FDI) businesses still took the lead in export activities over the past eight months, with their export turnover estimated at US$15 billion, a 26.9 percent increase which is much higher than the national increase of 2.6 percent.

According to the Ministry of Planning and Investment, so far this year, the country has licensed 426 FDI projects with a combined capital of more than US$2.9 billion, a 3.1 per cent year-on-year increase. The number was brought to about US$4 billion thanks to FDI businesses' expansion in the same period. Hanoi, Ho Chi Minh City and Ba Ria-Vung Tau were still the largest FDI attraction regions.

The industrial production value of the country reached VND329.46 trillion, a 16.7 per cent increase from the same period last year. This increase comprised of the State-run sector (up 9.6 per cent), non-State sector (up 21.8 per cent) and foreign investment sector (up 19.1 per cent).

High growth was maintained in the production of a number of important industrial products, including coal (20.7 per cent), silk (14.6 per cent), garments (19.6 per cent), rolled steel (16.4 per cent), and processed seafood (13.8 per cent).
The country also welcomed more than 2.4 million foreign visitors in the first eight months of this year, a 4.8 percent increase. In particular, visitors from Denmark increased by 26 per cent, Russia by 22 percent, German by 16 per cent, Australia by 18 per cent, Canada by 13 per cent and Switzerland by 11 per cent.

Source: VNAgency