Vietnam diversifying export markets

According to the report Import and Export Vietnam 2021, although the economy faces many difficulties, Vietnam’s export turnover still grows at a high rate (reaching 336.31 billion USD, up 19% compared to 2020). Vietnam’s export market is diversified, there are 33 export markets with a turnover of over 1 billion USD (an increase of 2 markets compared to 2020), 5 markets over 10 billion USD and 11 markets over 5 billion USD. USD (up 3 markets compared to 2020).

In addition, the Vietnam Import-Export Report 2021 highlights the positive points in international trade activities. Accordingly, despite many difficulties due to the 4th outbreak of the COVID-19 epidemic, the country’s import and export still reached a record number with a total turnover of 668.55 billion USD, of which exports reached more than USD 668.55 billion. 336.3 billion USD, up 19% compared to 2020; imports reached 332.2 billion USD, up 26.5%; trade surplus of more than 4 billion USD.

With this result, Vietnam has entered the top 20 economies in terms of international trade. Along with that, the export structure has changed positively and the area of ​​export products has become more and more diversified. The group of processed industrial products continues to be the driving force for the overall growth of exports. The proportion of total turnover of the group of fuels and minerals decreased. Vietnam has also made efforts to diversify export and import markets to meet the needs of domestic production and consumption, so the trade balance maintained a trade surplus for the sixth consecutive year.

Source:vtv.vn