Vietnam’s industrial exports surge by 15.4% in 7-m

Vietnam’s exports of processed and manufactured goods increased by 15.4 per cent year-on-year to $192 billion in the first seven months of 2024, making up 84.6 per cent of the total export value, the Ministry of Industry and Trade (MoIT) said.

Key export sectors, including cameras, camcorders and components (up 51.5 per cent) and computers, electronic products and components (up 30 per cent), posted robust growth.

Despite export declines to major markets, businesses in these sectors have successfully diversified their customer base, expanding into Africa, Eastern and Northern Europe, and Western Asia.

The inventory index for processing and manufacturing increased 7.6 per cent month-on-month and 9.6 per cent year-on-year in June, while the consumption index rose 10.5 per cent year-on-year but declined 4.3 per cent compared to May.

To further support the industry, the Vietnam Trade Office in the US will increase efforts to connect Vietnamese enterprises with specific trade fairs, such as Fabtech 2024 and IMTS.

The MoIT also plans to intensify trade promotion activities, broaden market reach, and effectively implement government support measures for export-oriented sectors like textiles, footwear, automobiles, machinery, and steel.

Attribution: Vietnam News Agency

Subediting: M. S. Salama