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.
The new Government decree also simplifies loan procedures while expanding credit incentives to include organic and circular agriculture, allowing them to access preferential terms similar to those of high-tech and value-chain based agricultural production.
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PwC Vietnam forecasts a vibrant M&A market in Vietnam’s healthcare sector in 2025, driven by rising demand for high-quality medical services and a growing middle class. Pharmaceutical companies, private hospitals, and specialised medical facilities, particularly in ophthalmology and oncology, are predicted to be key targets for M&A.
The central province of Quang Nam is set to become a hub for the medicinal plant industry, with Ngoc Linh ginseng designated as the core crop, under the Prime Minister's decision issued earlier this year.
The North-South Expressway project is scheduled for completion by 2030, aiming to establish the groundwork for Vietnam’s modern railway industry and stimulate regional economic development, positioning the country for a significant economic leap in the era of national rise.
The probe, initiated on June 11 following a petition by the US Coalition for Fair Trade in Hardwood Plywood, targets products classified under HS Code 4412 and 9403 imported from China, Indonesia and Vietnam.
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A key change in the draft decree is a provision requiring bank transfers for gold transactions valued at 20 million VND (765 USD) and above, to enhance transparency and verify customer identities.
In the first four months of 2025, trade turnover between Vietnam and Cambodia surpassed 3 billion USD, marking a 7% increase compared to the same period in 2024.
On June 19 alone, a total of 2,005 trucks completed customs clearance at Lang Son’s border gates — the highest single-day figure ever recorded in the province. Of these, 634 carried exports and 1,371 imports.
The OECD Economic Surveys: Vietnam 2025 report focuses on analysing the country’s macroeconomic fundamentals, the impact of international integration on attracting foreign investment and trade, and the country’s prospects for developing a low-carbon economy.
Antoine Colin, Senior Vice President for Global Supply Chain Digital Transformation & Resilience at HP Inc., affirmed HP’s strategic commitment to building a supply chain and ecosystem in Vietnam and the region.
Deputy Director General of the Ministry of Industry and Trade (MoIT)’s Trade Promotion Agency Bui Quang Hung emphasised that logistics has evolved from a technical function into a core capability for Vietnamese exporters to maintain their competitive advantage in the US market.
A trade official has suggested companies work closely with shipping lines, airlines, and freight forwarders to monitor routes, transit times, and potential surcharges while exploring broader cargo insurance to cover risks like war and terrorism.
In addition to institutional reform, the agency is also rolling out key solution groups to combat counterfeit goods, imitations, and intellectual property infringements in the digital environment.
The event, co-organised by the Vietnam Trade Office in the UK and TT Meridian, a local importer of Vietnamese fresh produce, aims to build a national lychee brand and encourage broader recognition of Vietnamese fruits in a competitive, high-end market.
The industry's performance has been powered by bold investments in modern production lines, enabling Vietnamese firms to produce complicated products which were exclusive to advanced economies.
Rice for export (Photo: VNA) 
