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ECONOMYTRADE - SERVICE

Vietnam posts trade surplus of US$6.43 billion in 10 months

Updated at Monday, 29 Oct 2018, 15:31
The Hanoitimes - Vietnam`s trade turnover reached US$394.11 billion in the first ten months of 2018, of which, export value amounted to US$200.27 billion, up 14.2% year-on-year, and imports totaled US$193.84 billion, up 11.8%.
Vietnam reported an estimated trade surplus of US$100 million in October, expanding the country's trade surplus to US$6.43 billion in the January-October period, the General Statistics Office (GSO) has said in a monthly report.
 
Illustrative photo.
Illustrative photo.
Particularly, the domestic sector reported a trade deficit of US$20.7 billion in the period while foreign-invested firms posted a trade surplus of US$27.1 billion. 

In October, Vietnam exported goods worth US$20.8 billion, down 1.5% month-on-month, while import turnover reached US$20.7 billion, up 6.1%.

Overall, Vietnam's trade turnover reached US$394.11 billion in the first ten months of 2018, of which, export value amounted to US$200.27 billion, up 14.2% year-on-year, and imports totaled US$193.84 billion, up 11.8%. 

According to the report, Vietnam's export staples during the period continued to increase compared to the same period of the previous year, including phones and accessories; garment; electronic products, computers and components; equipment, parts; and footwear. 

Additionally, Vietnamese fishery exports climbed 5.9% year-on-year to US$7.2 billion. Remarkable growth of export turnovers was also seen in vegetables with US$3.3 billion (up 14.4% year-on-year) and rice with US$2.6 billion (up 16.1% yearly). 

However, crude oil exports witnessed sharp declines in both value and volume compared to the same period of last year, standing at US$1.82 billion and 3.21 million tons, down 24.8% in value and 45.4% in volume.

In the January - October period, the US remained Vietnam's biggest export market, spending US$39 billion on Vietnamese goods, up 12.8% year-on-year, followed by the European Union with US$34.9 billion, up 9.9%, and China with US$32.1 billion, up 21.3%. 

Meanwhile, China remained Vietnam's largest import market during January-August with turnover of US$52.9 billion, a 12.4% climb year-on-year. 

South Korea claimed the second place by exporting US$39.2 billion worth of goods to Vietnam, up 2.1% year-on-year, followed by ASEAN with US$26 billion, up 13.1%. 
Ngoc Mai
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