Vietnam has witnessed overall export turnovers of approximately US $ 281.50 billion in 2020, growing 6.50 per cent on Y-o-Y basis. On the other hand, imports recorded by the country were US $ 262.40 billion, marking 3.60 per cent growth from 2019.
According to data released by the General Statistics Office, Vietnam, the country has experienced a trade surplus of US $ 19.10 billion in 2020 which is the highest surplus value in the last 5 years.
USA remained the largest import destination for Vietnam with turnover of US $ 76.4 billion, followed by China with US $ 48.5 billion and the EU with US $ 34.8 billion.
Meanwhile, China was the largest exporter to Vietnam with turnover of US $ 83.90 billion, tailed by South Korea with US $ 46.3 billion and the ASEAN with US $ 30 billion.
Of total export, garments and textiles contributed approximately US $ 29 billion, which is down 10.20 per cent as compared to 2019 – according to Xinhua News Agency, while the footwear exports of the country totalled US $ 16.6 billion with a yearly decline of 9.60 per cent.
As far as apparel and textile imports are concerned, the figures are around US $ 21 billion, down by 10 per cent from 2019.
It’s worth noting here that Vinatex has projected Vietnam’s garment and textile export turnover at US $ 38-39 billion in 2021.