Although the FDI sector is mushrooming and generating numerous jobs, its contribution to the economy is still modest with low value-added processed and assembled products, according to GSO General Director Nguyen Bich Lam.

The country’s export turnover reached US$ 132.2 billion in 2013, a year-on-year increase of 15.4%. The domestic sector got US$ 43.8 billion from shipping goods abroad, up 3.5%. The FDI sector (including crude oil) earned US$ 88.4%, up 22.4%.  

Heavy industry products and minerals pocketed US$ 58.6 billion in export revenue, up 21.5% against last year and representing 44.3%. 

The light industry and handicraft sectors earned US$ 50.3 billion, picking 16.3% and making up 38.1% of the country’s total export turnover. 

The agro-forestry sector gained US$ 16.5 billion, down 1.9% against last year and holding 12.5%. Meanwhile, aquaculture exports amounted to US$ 6.7 billion, representing a year-on-year increase of 10.6% and accounting for 5.1%.

Import turnover valued US$ 131.1 billion, 15.4% higher than the previous year. The domestic sector bought US$ 56.8 billion in goods (up 5.6%) and the FDI sector US$ 74.5 billion (up 24.2%).

According to the GSO, Viet Nam is still heavily relying on imported materials as the domestic auxiliary industries remain weak.

Raw materials for assembling operations held a large proportion of export revenue. Accordingly, the country imported 33.3% of overseas telephones and spare parts. Fabric import occupied 48.3% of export volume of the garment and textile industry.