Exports decline for 6th straight month

By Dat Nguyen   August 30, 2023 | 12:34 am PT
Vietnam’s exports in August fell 7.6% year-on-year, its sixth consecutive drop since March, due to declining orders from major markets.

In the first eight months, exports fell 10% to $227.71 billion, according to the General Statistics Office.

Major export categories posted declines. Smartphones and electronics dropped 15.4% year-on-year to $33.94 billion, while footwear fell 17.6% to $13.49 billion.

Vegetable and fruit exports, however, increased by nearly 56% year-on-year in the first eight months to a record $3.5 billion worth thanks to increasing demand from China.

Exports to the U.S. dropped 19.1% to $62.3 billion, and to the EU fell 8.3% to $29.4 billion.

Overall the country recorded a trade surplus of $20.19 billion.

Total trade declined 13.1% year-on-year to $435.23 billion.

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