Trade surplus widens to $5.39 billion
Tuesday, October 2,2018AsemconnectVietnam - Viet Nam recorded a trade surplus of US$5.39 billion in the first nine months of 2018, the General Statistics Office (GSO) said in a monthly report.
The foreign-invested sector enjoyed a trade surplus of $23.65 billion, but growth fell to 15 per cent year-on-year compared to 23 per cent growth in the first quarter due to difficulties finding export markets, the report noted.
The domestic sector reported a trade deficit of $18.26 billion in the period, but its exports experienced an encouraging increase of 17.5 per cent year-on-year to $51.07 billion, higher than 15 per cent jump posted in the first quarter.
The domestic sector’s positive export performance had contributed to a yearly rise of 15.4 per cent in the country’s nine-month export turnover of over $178.9 billion, nearly double the growth target set for the whole year by the National Assembly, GSO director Nguyen Bich Lam said.
According to the report, 26 export commodities brought in more than $1 billion in export value from January to September, making up 90.3 per cent of the country’s total export revenue.
Five of them grossed a revenue of more than $10 billion, accounting for 58.2 per cent of the total export value, including phones and accessories with $36.1 billion, up 15 per cent; textiles and garments ($22.6 billion, up 17.1 per cent); electronic products, computers and components ($21.6 billion, up 17 per cent); machinery, equipment and parts ($12.1 billion, up 29 per cent); and footwear ($11.8 billion, up 11 per cent).
However, crude oil exports witnessed sharp declines in both value and volume compared to the same period of last year, standing at $1.7 billion, down 25 per cent in value despite an average increase of 38 per cent in global crude oil prices.
In the January - September period, the US remained Vietnam’s biggest export market, spending $34.9 billion on Vietnamese goods, up 13 per cent year-on-year, followed by the EU ($31.1 billion, up 10 per cent) and China ($28.1 billion, up 27 per cent).
The country’s import value of commodities in the period saw a modest surge of 12 per cent to $173.52 billion. Of the sum, the foreign-invested sector contributed $104.2 billion, up 12 per cent, while the domestic sector made up $69.34 billion, up 11.7 per cent.
Key import items included electronics, computers and components, equipment and machinery, telephones and components, fabric, iron, steel, plastics, oil and gas, metal, footwear, chemicals, and garment and textile materials.
China remained Viet Nam’s largest import market during the period with turnover of $47.1 billion, a 12.5 per cent climb year-on-year. South Korea came next by exporting $35 billion worth of goods to Viet Nam, a rise of 1.4 per cent year-on-year, while ASEAN countries ranked third with $23.2 billion, up 13 per cent.
Source: VNS
Stocks of coffee producers less appealing on market
A brief overview of the Vietnam economy: Slow growth in Q1
Reference exchange rate down 3 VND at week’s beginning
DAILY: Vietnamese pepper prices remained unchanged on April 10
Seafood exports reached over 1.8 billion USD in first quarter of 2023
DAILY: Vietnamese coffee prices remained unchanged on April 10
Rubber industry needs better grip on competitiveness in int’l market
Vietnam eyes 30 billion USD in food, food stuff exports annually
Vietnam exports 1.7 million tonnes of rice in Q1
Blockchain facilitates international trade
Vietnam's coffee exports slow in Q1 as domestic prices rise
Vietnamese businesses updated on India’s new foreign trade policy
Reference exchange rate up 2 VND on April 7
Bac Giang hastens public investment projects, industrial parks
Plan on implementing Decision No. 327/QD-TTG dated March ...
Concretize viewpoints, objectives, tasks and solutions of the plan in accordance with practical conditions of the locality, associating ...Plan on implementing national environmental protection ...
Implementation plan of marine aquaculture development ...
Program on conservation and development of Vietnamese ...
Plan on improving quality of human resources to 2025 and ...
Efforts taken to turn culinary culture into national ...
The Vietnam Cuisine Culture Association (VCCA) is taking steps to implement a project to build and develop Vietnamese culinary culture ...Vietnamese cuisine making a name for itself with ...
Vietnam advance to next round of AFC U20 Women’s Asian Cup
Cultural tourism and traditional values promoted through ...