The country as a whole earned US$113.93 billion from exports in the first half of the year, an increase of 16% over the same period in 2017. Notably, the export growth rate of the domestic business sector was higher than the national rate. As many as 20 product lines reported an export turnover of more than US$1 billion each. Phones and phone parts topped the list of hard currency earners, with exports worth US$22.5 billion. Computers, electronic devices and spare parts came second, with US$13.45 billion, followed by textiles and garments (US$13.42 billion); machinery, equipment and components (US$7.8 billion); and footwear (US$7.79 billion). The structure of export goods is shifting toward a positive trend, in line with the strategy for the 2011-2020 period, with a vision to 2030, according to the ministry. Outbound sales of crude and mineral products, on the other hand, are declining, accounting for a mere 1.9% of the total exports, while sales of manufactured goods as well as the agricultural and fisheries sector are improving, making up 81.9% and 11.8%, respectively, of the total exports. The ministry says Vietnam has made use of tariff incentives in its free trade agreements (FTAs) to expand its export markets…. Read full this story
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