MoIT announces y-o-y increase of 9.7 per cent in export turnover.
Total export turnover in January reached $12.9 billion, an increase of 0.2 per cent compared with December and 9.7 per cent higher year-on-year, Deputy Minister of Industry and Trade Do Thang Hai told the ministry's monthly press conference.
However, exports in agriculture, forestry and seafood were $1.51 billion, a 0.9 per cent decline year-on-year. Exports of seafood and vegetables fell 9.7 per cent each, while coffee and pepper fell 2.6 and 20.6 per cent, respectively. Rice fell 2.3 per cent.
Fuel and mineral exports saw a dramatic 39.1 per cent decline year-on-year. Coal and crude oil exports were down 46.1 per cent and 36.5 per cent, respectively, while petrol other mineral exports fell 54.9 and 68.7 per cent, respectively.
Exports of other goods also fell, for example confectionery by 2.1 per cent and chemicals 4.4 per cent. Plastic and paper products fell 2.5 and 4 per cent, respectively, while clinker and cement exports fell 29.4 per cent.
The processing industry, which accounts for 78.7 per cent of total export turnover recorded higher exports, of $10.15 billion for an increase of 13.7 per cent.
Export of cattle feed increased 46.3 per cent and fertilizer 17.3 per cent. Raw materials for plastic and rubber products rose 47.3 and 16.6 per cent, respectively. Textile and footwear exports increased 31.5 and 23.2 per cent, while exports of material and accessories for textiles and footwear increased 43.6 per cent.
Exports of electrical products and components rose a remarkable 62.2 per cent, mobile phones and component 27.7 per cent, and camera exports 69 per cent.
The trade deficit was $500 million for January, equal to 3.9 per cent of total turnover. The deficit recorded by domestic enterprises was $1.19 billion, while FDI enterprises (include crude oil) recorded a surplus of $690 million. Exports by FDI enterprises (exclude crude oil) were $8.2 billion, an increase of 10.9 per cent.
- export turnover