Vietnam’s export earnings hit 27 billion USD in July, down 0.8 percent month-on-month and up 8.4 percent year-on-year (Illustrative photo: VNA)

Hanoi (VNA) – Vietnam’s export earning hit 27 billionUSD in July, down 0.8 percent month-on-month and up 8.4 percent year-on-year,reported the General Statistics Office (GSO) on July 29.

On seven-month calculation, the figure reached 185.33 billionUSD, marking a yearly rise of 25.5 percent. Of which, 48.52 billion USD wasfrom domestic economic sector, up 14.6 percent and the remaining fromforeign-invested sector, inclusive of crude oil, up 29.9 percent.

Twenty-seven goods groups earned over 1 billion USD from export,or 90.2 percent of the total. Five of them brought home more than 10 billionUSD, equivalent to 57.8 percent.

Export of materials and mineral resources was estimated at 1.87billin USD, up 1.4 percent annually while that of processed industrial goodswas 164.89 billion USD, up 27 percent. Agro-forestry products raked in 13.65billion USD and fisheries 4.92 billion USD, up 16.7 percent and 12 percent,respectively.

The US remained Vietnam’s largest importer with turnover hitting 53.6 billion USD, up 37.4 from the same period last year. It was followed byChina 28.7 billion USD, up 24.2 percent and the European Union 22.5 billionUSD, up 15.5 percent.

According to the GSO, imports in July was estimated at 28.7billion USD, up 3.8 percent month on month and 29.9 percent year on year.

Seven-month imports rose by 35.3 annually to 188.03 billion USD,66.31 billion USD of which were from domestic sector and the remaining fromforeign-invested sector.

Over 1 billion USD were spent on 31 goods each, or 87.5 percentof the total imports.

China was the largest exporter of Vietnam with a value of 62.3billion USD, up 48.5 percent annually. It was followed by the Republic of Korea29.7 billion USD, up 19.9 percent; ASEAN 24.7 billion USD, up 48.2 percent; andJapan 12.6 billion USD, up 13.8 percent.

The country ran a deficit of 1.7 billion USD in July, bringingthe figure in seven months to 2.7 billion USD.

To boost production and exports, the Ministry of Industry and Trade pledged totap opportunities from free trade deals, step up export promotion activitiespost-pandemic, as well as cont༒inue developing energy, mechanical engineeringindustries./.