Vietnam's imports and exports soared by 53% during the Spring Festival

The General Administration of Customs of Vietnam announced on February 17 (the sixth day of the new year) that according to preliminary statistics, during the Spring Festival of the Xin Chou Year (February 10-16, 2021), 960 enterprises across Vietnam participated in import and export activities, an increase of 363 compared to the same period last year. A total of 10,300 import and export orders were declared to the customs, a year-on-year increase of 59%. During the period, the value of imports and exports reached US$1.67 billion, a year-on-year increase of 53%. Among them, exports were 730 million U.S. dollars, accounting for 44% of total imports and exports, an increase of 79% year-on-year; imports were 940 million U.S. dollars, an increase of 73%, accounting for 56% of total imports and exports.

According to statistics, from the beginning of 2021 to February 16, Vietnam’s total import and export volume reached US$74.51 billion, a year-on-year increase of 31%. Among them, exports were US$38.57 billion, an increase of 36%; imports were US$35.94 billion, an increase of 26%. So far, the trade surplus is 2.63 billion US dollars.

During the Spring Festival, China is Vietnam's largest export market, and South Korea is Vietnam's largest import market. Among them, exports to China amounted to US$189 million, accounting for 26% of total exports; exports to the United States were US$152 million in the same period, ranking second. Imports of US$355 million from South Korea accounted for 38% of total imports; imports of US$159 million from China during the same period ranked second.