The Department of Industry and Trade of Dong Nai Province yesterday said that the US was still the largest export market of the province with turnover accounting for 25.7 percent of the province’s total exports.
Export turnover is estimated to reach US$244.72 billion in 2018, a year on year increase of 13.8 percent, with 29 commodities obtaining the turnover of over US$1 billion, according to the Ministry of Industry and Trade.
Vietnam’s export turnover is estimated to reach US$240 billion this year, increasing 10-12 percent compared to 2017, said deputy chairman of the Vietnam Chamber of Commerce and Industry (VCCI) Vo Tan Thanh at Vietnam Export Forum 2018 on November 28.
The garment and textile industry is expected to obtain the export turnover of US$35 billion this year, $4 billion higher than last year number, as a result of abundant orders from free trade agreements.
Phones and phone parts export turnover growth has reached 20-50 percent in recent years, hitting the record high of 60 percent in the first quarter this year. However, it has been reducing under influence of the US-China trade war.
In the first six months, Vietnam enjoyed a trade surplus of US$2.7 billion and saw 20 commodities earning export value of over US$1 billion each, according to a meeting by the Ministry of Trade and Industry in Hanoi on July 9.