Phones, coffee sales drop cuts Vietnam’s October exports by 0.8%

Coffee exports in October reduced by 27% from a year ago to 100,000 tons when farmers refused to sell their beans with prices reported as lowest in a decade.

Samsung Electronics reduced its phones and accessories shipments between September and October, making phones and components exports dropped by 13.5%. Exports of crude oil and steel faced significant declines.

In general, export turnover in October was estimated at $22.4 billion, down 4.1% from the previous month while import revenue was seen at $22.5 billion, up 3.5% from a month ago.

October trade was seen at $100 million deficit. For the first 10 months, the trade balance is estimated to have a surplus of $7 billion.

During the past 10 months, total trade revenue was estimated at $427 billion with $217 exports, up 7.4% a year ago period. Exports of domestic sector grew 16.2% while FDI sector recorded 3.9% growth in export. 

In January-October period, there were 29 items with export turnover of over $1 billion, accounting for 91.2% of total export revenue.

There were 5 items with export turnover of over 10 billion US dollar including phones and components, electronics, computers and components, textiles and footwear, machinery, tools and spare parts.