Vietnam enjoys surge in export revenue in Indonesian market

Tuesday, October 12, 2021  09:12

                               Illustrative image (Source: VNA)

Hanoi (VNA) – Vietnam’s exports to Indonesia earned the country 2.51 billion USD in the first eight months of 2021, a surge of 44.2 percent year on year despite complicated developments of COVID-19.

Ten product groups with highest revenue in the Indonesian market in the period included computers, electronic products and accessories, plastic materials and fiber. Their combined revenue reached 1.81 billion USD, accounting for 72 percent of the total.

The highest rise was seen in the export revenue of computers, electronic products and accessories at 127.2 percent, which topped 328.38 million USD.

Meanwhile, decreases were reported in the export revenues from machinery, equipment and spare parts (14.4 percent), and telephones and accessories (10.9 percent).

In August, Vietnam imported 624.44 million USD worth of goods from Indonesia, down 9.5 percent over July. The sharpest fall was recorded in the import value of automobile at 55.7 percent, followed by that of automobile parts at 39.5 percent.

The result brought the total import value from Indonesia in the first eight months to 4.39 billion USD, up 51.9 percent year on year.

At the same time, Indonesian investment in Vietnam in the first nine months of 2021 hit 5.49 million USD, bringing Indonesia to the 39th position among 94 countries and territories investing in Vietnam this year.

As of September, Indonesian investors had 86 valid projects in Vietnam with total investment of 611.57 million USD./.