Export value in November was US$12.3 billion, up 17.9% compared to the same period last year, said Head of the Planning Department Nguyen Tien Vy.

It brought export turnover over the past 11 months to US$121 billion, up 16.2% year on year.

The processing industry made crucial contribution to the nation’s export turnover with US$85.5 billion. The export of phones and components ranked first with US$20.2 billion, up 78.4%. It was followed by garment with US$16.4 billion, up 19.7%, electronics, computers and spare parts with US$9.9 billion, up 41.6% and footwear US$7.4 billion, up 14.2%.

The foreign-invested sector saw a sharp increase in export turnover with US$74.56 billion, up 28.5%.

Export turnover to Asia witnessed an increase of 12.9%, the EU up 22.4%, America up 28.2% and Africa up 12.9%.

Remarkably, Viet Nam has reduced export of fuel and minerals. During the recent 11 months, export turnover of coal, crude oil, oil and gas decreased by 28.7%, 14.4% and 34.9%, respectively.

Viet Nam only spent US$12.2 billion importing commodities in November, down 2.1% compared to the previous month. Over the past 11 months, import turnover reached US$121.1 billion, up 16.5% against the same period last year.

The nation’s trade deficit fetched US$96 million, accounting for 0.08% of export turnover.

The MIT expects that export turnover will be US$12.5 billion in December, thus bringing the total amount this year to US$133.5 billion, or 16.6% more than the year’s plan. The country will manage a trade deficit at around US$300 million.