Vietnam’s exports slow down

By Hung Le   January 31, 2019 | 09:28 am GMT+7
Vietnam’s exports slow down
Shipping containers are seen at a port in Ho Chi Minh City, Vietnam. Photo by Shutterstock/Igor Grochev

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.

 
 
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