22 products achieve export turnover above US$1 billion

22 products achieve export turnover above US$1 billion

export turnover, agro-forestry-fisheries sector, Covid-19 pandemic, agricultural sector, electronics exports, footwear exports
In the first six months of this year, export turnover was estimated at more than $121 billion, down 1.1 percent year-on-year.

Of which, the domestic economic sector achieved more than $41 billion, up 11.7 percent, accounting for 34.1 percent of total export turnover; the foreign-invested sector got nearly $80 billion, down 6.7 percent, accounting for 65.9 percent.

There were 22 products with export turnover above $1 billion, accounting for 86.2 percent of total export turnover. The group of cell phones and components led the list with $21.5 billion, followed by electronics, computers, and components with $19.3 billion, garments and textiles with $12.8 billion, and machinery, equipment, and tools with $10.3 billion. Commodity groups with export turnover below $10 billion but higher than $1 billion included footwear, wood, and wooden products, means of transport and spare parts, and aquatic products.

Agricultural products saw declines in exports compared to the same period last year. Of which, rubber exports posted the highest decrease of 27.8 percent, reaching $606 million; pepper exports touched $365 million, down 19.1 percent; vegetable and fruit exports hit $1.8 billion, down 11.4 percent; meanwhile, rice exports touched $1.7 billion, up 19.3 percent.

The representative of the MoIT said that due to the impact of the Covid-19 pandemic, export turnover at some key export markets, such as the US and Europe, dropped, leading to a sharp decline in exports of many products.

On June 29, the Ministry of Agriculture and Rural Development (MARD) reviewed the first six months of the year and set the tasks to overcome difficulties, and complete the targets of the agricultural sector in the last six months. Noticeably, in the second quarter, Vietnam's agricultural sector regained its growth rate with production value increasing by 2.19 percent. Particularly, the export turnover of the agro-forestry-fisheries sector in the first six months was estimated at $18.81 billion, down only 3.4 percent compared to the same period last year. Although the sector encountered several difficulties this year, it still had a trade surplus of $4.5 billion, an increase of $339 million over the same period last year.

In the first six months of the year, nine projects of processing agricultural, forestry, and aquatic products with a total investment of over VND10 trillion were started construction or put into operation. The MARD has changed the growth target for this year at 2.5-3 percent and the total export value at $41 billion. According to the Deputy Minister of the MARD Ha Cong Tuan, if the global market situation is as good as it was from the second half of June until now, the export target of $41 billion can be achieved. But if the Covid-19 pandemic still spreads widely in the future, exports will face many difficulties.

By Ai Van, Van Phuc – Translated by Thuy Doan

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