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ECONOMY

Vietnam posts record trade surplus of US$4.69 billion in 8 months

Updated at Monday, 17 Sep 2018, 15:55
The Hanoitimes - Vietnam`s trade turnover in the first eight months of 2018 stood at US$312.13 billion, up 14.5% or US$39.6 billion year-on-year.
Vietnam's trade surplus reached an all-time monthly high of US$2.2 billion in August, resulting in a trade surplus of US$4.69 billion in the first eight months this year, according to the General Department of Vietnam Customs (GDVC).
 
Illustrative photo.
Illustrative photo.
Total trade value in August reached a record high of US$44.76 billion, up 8.5% against the previous month, of which exports were US$23.48 billion, up 15.6% or US$3.16 billion and exports US$21.28 billion, up 1.6% or US$329 million.

This resulted in trade turnover of US$312.13 billion in the first eight months of 2018, up 14.5% or US$39.6 billion year-on-year.

The country's export turnover in eight months stood at US$158.41 billion, up 16.7%, and imports of US$153.72 billion, up 12.4%. 

The GDVC reported the trade turnover of the FDI sector in August at US$30.21 billion, up 11.2% compared to July, accumulating a total of US$203.05 billion in the January - August period, up 14.9% year-on-year or US$26.27 billion.

Upon breaking down, the FDI sector's export-import revenue in August stood at US$16.82 billion, up 18.5% compared to the previous month, totaling US$111.27 billion in eight months, up 16.7% year-on-year. 

Meanwhile, import turnover of the FDI sector climbed 3.3% compared to the previous month in August to US$13.39 billion. In the first eight months, the figure was reported at US$91.78 billion, up 12.6% year-on-year. 

According to the GDVC, the FDI sector saw a trade surplus of US$3.44 billion in August and US$19.49 billion in the January - August period. 

The US remained Vietnam's largest export market with a value of US$30.81 billion, accounting for 19.5% of total Vietnam's export turnover in the first eight months. Meanwhile, China was Vietnam's largest supplier, exporting goods worth US$41.63 billion to the latter during this period, up 13.7% year-on-year and equivalent to 27.1% of Vietnam's total import turnover. 
Ngoc Thuy
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