The office reported that the total import-export turnover of goods hit 587.68 billion USD, down 9% year-over-year, with exports decreasing by 6.4% and imports dropping by 11.7% compared to the same period last year.

Trade surplus reached 24.44 billion USD as of November 15 this year.

The domestic sector saw a trade deficit of 19.05 billion USD, and the foreign-invested sector (including crude oil) posted a trade surplus of 43.49 billion USD.

In the first 11 months, 33 products posted an export turnover of over 1 billion USD each, accounting for 92.9% of the country's total. Particularly, seven commodities recorded an export turnover of more than 10 billion USD, accounting for 66.1%.

Deputy Minister of Industry and Trade Do Thang Hai said that the ministry will promote negotiations, sign new agreements, commitments, free trade agreements, and trade agreements with more potential partners in order to diversify markets, products, and supply chains.

The ministry will support businesses to take advantage of commitments in new generation FTAs to boost exports; and coordinate with the Ministry of Agriculture and Rural Development to negotiate with the Chinese side to open the market for more Vietnamese fruit and vegetable products such as green-skinned grapefruit, fresh coconut, avocado, pineapple, star apple, and lemon.

It will also focus on strengthening early warning of trade defence lawsuits, giving them consultations on how to respond to lawsuits, and providing businesses and associations in a timely way with new market information, demand, and relevant regulations.

Lao Cai hosts 23rd Vietnam - China international trade fair

The 23rd Vietnam - China international trade fair is being held in the northern mountainous province of Lao Cai from November 10-15.

Vietnam posts trade surplus of 24.6 billion USD

Vietnam recorded a trade surplus of 24.6 billion USD during the first ten months of 2023, according to the General Department of Customs (GDC).

Trade surplus of over 21.6 billion USD posted in first nine months

Vietnam’s total import-export turnover of goods hit 497.66 billion USD in the first nine months of this year, down 11 percent over the same period last year. Trade was in surplus to the tune of 21.68 billion USD.

Vietnam seeks to enhance trade with Brazil

Prime Minister Pham Minh Chinh wants trade with Brazil to top US$10 billion by 2025 and $15-20 billion by 2030.

Vietnam International Agriculture Trade Fair kicks off

The 23rd Vietnam International Agriculture Trade Fair (AgroViet 2023), themed "Connecting value chains, developing ecological and sustainable agriculture", opened on the morning of September 14.

Source: VNA