FDI firms drive trade turnover growth

fdi firms drive trade turnover growth hinh 0
Vietnam raked in US$243.48 billion from exports, up 13.2 per cent on-year.

News outlet VnEconomy cited freshly-released statistics from the General Department of Vietnam Customs as saying the country’s trade turnover in 2018 amounted to US$480.17 billion, an on-year rise of 12.2 per cent.

Notably, the trade turnover of foreign direct investment (FDI) enterprises reached US$313.21 billion, equivalent to 65.22 per cent of the total and a 11.7 per cent on-year rise. Domestic firms contributed US$166.96 billion to the total trade value, surging by 13 per cent.

Vietnam saw a trade surplus of US$6.8 billion in 2018, a 3.2-fold increase on-year.

In particular, the country raked in US$243.48 billion from exports, up by 13.2 per cent on-year. Of these, US$171.53 billion was contributed by FDI  enterprises, registering 70.4 per cent of the total export value, up 12.4 per cent on-year.

Telephones, garment and textiles, computers, machinery, and aquatic products topped the list of exports.

Meanwhile imports also enjoyed a strong year. Imports totaled US$236.69 billion, an on-year hike of 11.1 per cent. The FDI sector held the largest proportion of nearly 60 per cent with US$141.68 billion in import value, rising by 10.8 per cent on-year.

Computers, machinery, telephones, garments, and petrol were among the top import categories.

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