Vietnam's trade turnover during January-February valued 95.81 billion USD, a year-on-year surge of 25.4 percent. (Photo: VNA)

Vietnam's trade turnover during January-February totalled 95.81 billion USD, a year-on-year surge of 25.4 percent. Of the total, exports amounted to 48.55 billion USD, a yearly hike of 23.2 percent, while imports were estimated at 47.26 billion USD, or 25.9 percent higher than the same time last year.

There were nine commodities joining the billion-USD export club who made up 73 percent of the country’s export turnover.

The US was Vietnam’s biggest importer as it splashed out 14.2 billion USD on Vietnamese products, or 38.2 percent higher. It is followed by China, the EU, ASEAN, the Republic of Korea, and Japan.

Vietnam spent big (47.26 billion USD) on import. In the two-month period, China was the largest exporter of Vietnam, followed by the Republic of Korea , ASEAN, Japan,  the EU, and the US.

In a bid to support local firms in promoting production and exports, the Ministry of Industry and Trade said that it will work to capitalise on opportunities from the signed free trade agreements to seek measures for market development. Additionally, it will keep close watch on the global market to identify key export products, while paying due heed to penning measures for market development.