(Photo: VOV)

In the reviewed period, the country exported roughly 209.4 billion USD worth of goods, which is a 10.1% decrease year on year. Imports totaled at 193 billion USD, an annual decline of 16.7%.

The first half of August saw Vietnam's total import-export turnover reach 28.6 billion USD, of which, exports reach 14.4 billion USD, down 10.8% from the same period last year.

There were four groups of export items that crossed the 1 billion USD mark in revenue, including phones and components (2.42 billion USD); computers, electronic products and components (2.38 billion USD); garments and textiles (1.55 billion USD); and machinery and equipment (1.53 billion USD).

Meanwhile, Vietnam's purchases totaled 14.2 billion USD during the first half of August, up 5.3% year on year, of which, 4.1 billion USD was spent on computers, electronic products and components, while 1.87 billion USD was for machinery, equipment, tools and spare parts.

Import turnover maintained a steady climb in recent months, with a focus on goods for production and export activities, as well as domestic consumption.

This is a positive sign for domestic production. Export turnover is also projected to grow moving forward, said economists.

The Ministry of Industry and Trade (MoIT) said it is supporting businesses to maximize benefits from free trade agreements (FTAs) such as the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), the EU-Vietnam Free Trade Agreement (EVFTA), and the UK-Vietnam Free Trade Agreement (UKVFTA), in an effort to boost exports amid a global market slump.

The MoIT has also coordinated with the Ministry of Agriculture and Rural Development to negotiate with China to open its market to other Vietnamese fruit and vegetable products such as green-skinned pomelos, fresh coconuts, avocados, pineapples, star apples, lemons, and cantaloupe.