Vietnam exports shrimps to the US and European markets
Previously, the country made USD500 billion in 2020 and USD600 billion in 2021.
According to the General Statistics Office 's report, by the end of November, FDI companies had contributed up to 66 percent of the country's total trade value with USD468.70 billion, which is up 12.10 percent from last year's figure.
The US was the biggest market for Vietnamese goods, with export turnover to the market reaching USD101 billion, up nearly 18 percent compared to last year's figure. Meanwhile, Vietnam imported the largest amount of goods from China, with a value reaching USD109 billion, a 10 percent increase from last year.
Vietnam recorded a trade surplus of USD10.60 billion in the January-November period. In that period, the country also recorded a trade surplus of USD29.40 billion with the European Union, and a trade deficit of USD56.90 billion with China.
To promote export, Deputy Minister of Industry and Trade Do Thang Hai affirmed that in the last month, his ministry has focused on supporting businesses to find alternative suppliers of raw materials with suitable prices, to ensure sufficient raw materials and fuel for production and consumption, and to make good use of signed free trade agreements to speed up production and export.
The facilitation of administrative procedures for enterprises will be further promoted through the application of digitalisation, most likely for tax refunds, import and export customs, and issuance of Certificates of Origin.
In 2021, Vietnam ranked 23rd in export and 20th in import globally, as listed by the World Trade Organisation. The country ranked second in goods import-export in the ASEAN, only after Singapore. The General Department of Vietnam Customs said that Vietnam should improve its ranking with the impressive performance this year.