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Total import-export turnover reached $63.15 billion in the month—a 10.5-per cent drop month on month (MoM) and a 3.5-per cent decrease year on year (YoY).
The sector with foreign investment was the key driver of the trade performance, generating a surplus of $4.43 billion, while domestic firms posted a deficit of $1.4 billion, a domestic news agency reported.
Export revenue in January totalled $33.09 billion—a decline of 4.3 per cent YoY, with seven product categories logging $1 billion in value each, collectively accounting for 67.9 per cent of total exports.
The manufacturing and processing sector dominated the export structure, contributing 89 per cent of total export value.
Vietnam’s imports were worth $30.06 billion in the month—a YoY decrease of 2.6 per cent, with three import categories surpassing the $1-billion mark, representing 49.3 per cent of total imports. Around 94 per cent of the amount was for capital goods and equipment, while the rest was for consumer goods.
The United States was Vietnam’s largest export market in the month, with turnover reaching $9.8 billion, while China was the biggest source of imports, at $11.6 billion.
Fibre2Fashion News Desk (DS)