Import and export reach a record of more than US$545 billion in 2020

Export-import turnover has seen positive growth, while Vietnam has a trade surplus of nearly US$20 billion in 2020.

Information from the General Department of Vietnam Customs announced on the afternoon of January 13, 2021, showed that, in December 2020, the total export turnover of the whole country reached more than US$27.6 billion, up 9.6% compared to November 2020.

Thereby, the total export turnover of the whole year rose to US$282.65 billion, up 7% compared to 2019.

Last year, Vietnam had six groups of export goods with a turnover of US$10 billion or more.

Leading was phones and components with a turnover of US$51.2 billion. However, this value decreased by 0.4% compared to a year ago.

The remaining groups are: computers, electronic products, and components with nearly US$44.6 billion, up 24.1%; textiles and garments reached US$29.8 billion, down 9.8%; machinery, equipment, tools and spare parts reached nearly US$27.2 billion, up 48.6%; footwear nearly US$16.8 billion, down by 8.3%; wood and products reached nearly US$12.4 billion, up 16.2%.

On the import side, the General Department of Vietnam Customs data recorded a turnover of US$27.9 billion in December 2020, an increase of 13% compared to November, thereby bringing the total turnover of the year to US$262.7 billion, up 3.7% compared to 2019.

Computers, electronic products and components were the largest import commodity group with a turnover of nearly US$64 billion, up 24.6% compared to 2019.

Thus, even in the context of the Covid-19 pandemic, with the Government's drastic instructions in realizing the dual goal of preventing and combating the pandemic with economic development; the efforts of the ministries, branches, localities, the business community and employees, by 2020, the total import-export turnover of Vietnam will still set a new record with more than US$545 billion, an increase of about US$28 billion versus 2019’s results.

And 2020 also recorded a record trade surplus of nearly US$20 billion, nearly double the surplus of 2019.

Source: Customs News