Processed industrial products account for more than 86% of Vietnams total exports

Vietnam's "New Hanoi" reported on November 3 that according to data released by the Ministry of Industry and Trade of Vietnam, processed industrial products accounted for 86.1% of Vietnam's total exports and continue to play an important role in export growth. In the first 10 months of this year, exports of such commodities reached US$230.69 billion, a year-on-year increase of 18.1%.

The products in the processing and manufacturing industry that have contributed significantly to the increase in exports include: steel, machinery and equipment, tools and parts, timber and wooden products. Among them, the export value of various types of steel reached 9.65 billion U.S. dollars, an increase of 132% year-on-year (export volume increased by 40.1%); the export value of other machinery, equipment, tools and parts reached 29.57 billion U.S. dollars, an increase of 39.7% (export volume increased by 13.1%); The export value of timber and wood products reached 11.89 billion U.S. dollars, an increase of 21.4%; the export value of textiles was 25.86 billion U.S. dollars, an increase of 4.5%.

In addition, the export value of some commodities declined year-on-year, such as handbags, suitcases, hats, umbrellas, etc. The export value was 2.38 billion U.S. dollars, a decrease of 7.1%.