Vietnam enjoys growing trade surplus of over US$6.8 billionWednesday, October 23,2019
AsemconnectVietnam - Vietnam recorded a trade surplus of over US$6.8 billion between the beginning of the year and October 15 with total import-export turnover reaching over US$403 billion, according to statistics released by the General Department of Vietnam Customs.
Of the overall figure, total export turnover hit US$205 billion, while import turnover stood at over US$198 billion.
During the first half of October, the country’s total import-export turnover hit close to US$21 billion, resulting in the nation suffering from a trade deficit of US$369 million.
Throughout the reviewed period, three main categories of export goods recorded a turnover of over US$1 billion, including telephones and components, computers, in addition to electronics and components.
By early December, import and export turnover is forecast to reach US$500 billion. This figure has been calculated in the context of both the growth rate and the scale of import and export turnover being higher during the final few months of the year.
This can largely be attributed to businesses preparing goods for large global shopping events such as Christmas, New Year, and the Lunar New Year festivals in Vietnam and other Asian countries.
In 2017, Vietnam’s import and export turnover of goods racked up US$400 billion for the first time, a two-fold in value after six years the country touched the US$200 billion mark.
Most notably, import-export value has recorded strong growth since 2015 with the nation signing a number of free trade agreements with the Republic of Korea, the Eurasian Economic Union, and ASEAN.
Aside from dramatic changes witnessed in the overall data, the structure of import and export of goods has also undergone positive chances, mainly focusing on industrial goods.
With regard to export turnover, the country has about 30 categories of export products which reach an annual turnover of US$1 billion, including a few high-value items such as textiles, footwear, coal, and crude oil.
HCM City attracts over 1 billion USD in FDI
GDP growth of 3.82 percent in Q1 is a miracle: official
Solutions for Vietnam to maintain its current economic growth
Agricultural sector gains trade surplus in Q1 despite COVID-19
Vietnam’s exports of goods to South Korea hit 2.95 billion in 2 months
Vietnam’s imports of LPG from South Korea increased
Vietnam’s exports and imports of iron and steel in first two months
Vietnam-Israel trade yields US$236 mln in two months
Vietnam’s exports and imports of seafood in first 2 months of 2020
Ho Chi Minh City’s March CPI falls 0.58 percent
Vietnamese economy stays resilient to external shocks: WB
Online trade promotion activities should be developed due to COVID-19: agency
Vietnam’s exports of farm – forestry – fishery products hit by Covid - 19
Forecast for Vietnam’s economic growth revised down due to Covid - 19