Import and export are two common forms of open economies. However, in these forms there will be concepts that we need to be answered. Let’s learn more about import turnover and export turnover with riclix.com through the following article.

Viewing: What is export turnover?

1. What is export turnover

?What is export turnover? The share of turnover in Vietnam

In September 2017, the total value of imports and exports reached 37.6 billion USD, down 1% compared to the previous months. While import turnover was estimated to increase by 2.3%, export turnover decreased by nearly 4%, reaching only 19 billion USD. The trade balance at this time rose to a surplus of 400 million. In which, the trade deficit decreased to 442 million USD, about 0.3% of the export value.

By October 2018, Vietnam’s trade surplus in goods reached $7.21 billion. In which, the total import-export value of the first 10 months of 2018 reached 396.85 billion USD. This figure is up 13.8% over the same period last year.

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Main exports

In terms of items, phones and components are still the leading products that Vietnam exported the most in the first 10 months of 2018, with a turnover of 41.44 billion USD. Behind phones and components is textiles with $25.16 billion. Followed by computers and machinery with a turnover of over 13 billion USD. Wood products, aquatic products, means of transport, cameras reached a turnover of 3.8 to 7.2 billion USD.

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Calculated in the first 10 months of 2018, the total import and export value of the country reached 396.85 billion USD. This figure increased by 13.8% compared to the absolute number of the same period in 2017. In which, the total import-export value of FDI enterprises reached USD 259.79 billion. Import-export value of domestic enterprises is 137.05 billion USD. This number increased 14% over the same period in 2017.

Conclusion

So through this article we have more knowledge about what is import turnover and export turnover. In addition, when these two concepts are combined, it is often referred to as import-export turnover. In recent years, Vietnam’s import and export turnover has grown strongly and promises to bring a more developed economy in the future.

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