Foreign firms enjoy 13.3% export growth in 5 months
Export turnover of foreign-invested companies in Vietnam in the year to May 15 grew 13.3% year-on-year to $98.8 billion, accounting for 73% of the country's entire sum, according to Vietnam Customs.
Workers make smartphones at a Samsung factory in northern Vietnam. Photo by The Investor/Trong Hieu.
The foreign direct investment (FDI) sector’s total import spending in the period was $88.5 billion. Therefore, the group enjoyed $10.3 billion in trade surplus.
The national economy generated $135 billion in export revenue, up 15.5% year-on-year, with trade deficit reaching $223 million.
The FDI sector’s top export items are among the country’s major earners like phones and components, computers, machines, equipment, apparel, and footwear.
Vietnam’s increasing export turnover in recent years relies on the FDI sector’s results. The country’s export in 2021 soared by 19% from 2020 to $336.3 billion. Of this, the foreign sector (including crude oil) made up 73%, up 21% year-on-year, General Statistics Office data shows.
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