Vietnam’s export turnover in the first seven months of 2020 hit an estimated 145.79 billion USD, up 0.2 percent year-on-year, according to the General Statistics Office.
Hanoi (VNA) - Vietnam’s export turnover in the firstseven months of 2020 hit an estimated 145.79 billion USD, up 0.2 percent year-on-year, according to the GeneralStatistics Office.
The export value in July alone reached 23 billion USD, up 1.9percent compared to the previous month and 0.3 percent over the same periodlast year.
The domesticeconomic sector was seen as a key contributor to the national export growth inthe Jan-July period, bringing home 50.76 billion USD, up 13.5 percent.Meanwhile, the foreign-invested sector (includingcrude oil) raked in 95.03 billion USD, down 5.7 percent year-on-year.
The US remained thelargest importer of Vietnamese goods, with a turnover of 37.9 billion USD in thelast seven months, up 15 percent compared to same period last year. China was therunner-up with 23.5 billion USD, surging 18.4 percent.
Meanwhile, the markets that saw decreased export turnover included the EU (down5.9 percent), ASEAN (15.4 percent), Japan (5 percent), and the Republic of Korea(0.4 percent).
Vietnam spent 139.33 billion USD on imports in the reviewed period, down 2.9percent year-on-year. China was the biggest exporter to Vietnam with anestimated turnover of 41.6 billion USD, down 1.8 percent.
As a result, Vietnam enjoyed a trade surplus of 6.5 billion USD in the lastseven months, the GSO said./.
Vietnam enjoyed a trade surplus of 5.46 billion USD in the first six months of this year, nearly 1.5 billion USD higher than the estimated 4 billion USD, according to the General Department of Customs.
Shrimp exports increased by 5.7 percent year-on-year in January-June to 1.5 billion USD despite the impact of COVID-19, according to the Vietnam Association of Seafood Exporters and Producers (VASEP).
The agriculture sector needs to address challenges related to branding, geographical indications, traceability, and intellectual property to take full advantage of the free trade agreement Vietnam has signed with the EU, speakers said at a meeting on July 24.
The export turnover of agriculture, forestry and aquaculture in the first seven months of 2020 was estimated at 22.3 billion USD, a decrease of 2.8 percent year-on-year.
China’s Laoling city, in coordination with VINEXAD, hosted a series of events in Ho Chi Minh City from August 7-9 to seek trade and economic cooperation with Vietnam.
Vietnamese Ambassador to Cambodia Nguyen Minh Vu led a delegation to Mondulkiri, Ratanakiri, and Kratie provinces from August 5-8, aiming to deepen economic ties and support Vietnamese businesses operating in Cambodia’s northeastern region.
Party General Secretary To Lam’s upcoming state visit to the Republic of Korea (RoK) is expected to mark a new milestone in the bilateral relationship, creating fresh momentum for trade and investment cooperation between the two countries.
In the context of the growing global digital economy, digital transformation and the promotion of e-commerce are key drivers helping Vietnam boost integration, enhance competitiveness, and expand export markets, according to the Vietnam E-commerce and Digital Economy Agency
Tilapia is considered highly competitive in export markets thanks to its affordability, ease of processing, and appeal across both high-end and mass-market segments.
In the first seven months of the year, Phu Tho attracted an impressive 651.7 million USD in foreign direct investment, including 35 newly licensed projects totaling 119 million USD in registered capital and 45 existing projects with an additional capital of 533 million USD.
Under the agreements, VinEnergo will invest in, install, and operate 43 MWp of rooftop solar power capacity and 45 MWh of BESS capacity across the three plants.
Under a draft to amend and supplement the Government's Decree 125/2020/ND-CP on administrative sanctions for violations of tax and invoice regulations, the Ministry of Finance has proposed classifying the failure to issue invoices into five different levels. Infraction levels will correspond to fines of 1 million VND to 80 million VND, depending on the nature and number of invoicing violations.
A new airline developed and invested by Sun Group — has officially announced a strategic partnership with Amadeus IT Group (Amadeus), one of the world’s leading travel technology companies. This agreement not only lays the foundation for a modern digital infrastructure but also marks a pivotal step in SPA’s global expansion strategy, enabling the airline to access international distribution networks and reach customers worldwide.
Of the total, 107,700 were new firms, with combined registered capital of 928.4 trillion VND (35.4 billion USD), up 10.6% in number and 5.5% in capital compared with the same period last year.
Experts agree that a combination of technology, enforcement, education and cross-border cooperation is essential to protect copyrighted content in Vietnam’s growing digital ecosystem.
Poland is Vietnam’s largest export market in Central and Eastern Europe, with key staples including seafood, textiles, footwear, coffee, and cashew nuts.
Cashless payments are growing at an impressive rate, averaging 30–40% annually. Vietnam’s per capita cashless transaction volume now trails only China, with total value of 295.2 quadrillion VND (11.26 trillion USD), or 26 times of its GDP.
A draft resolution on piloting a digital asset and cryptocurrency market is being developed, aiming to create a broad-enough regulatory sandbox that enables investor participation and provides practical grounds for policy refinement in areas such as risk management and anti-money laundering.
Rice for export (Photo: VNA) 
