Vietnam posts record high monthly trade surplus of US$2.8 billion in July
The Hanoitimes - Vietnam attained a trade surplus of over US$8.4 billion during the first seven months of this year, significantly higher than the surplus of US$1.8 billion recorded in the same period last year.
Vietnam posted a trade surplus of US$2.8 billion in July, the highest since the beginning of the year and far exceeding the previous estimate of US$1 billion from the General Statistics Office, according to the General Department of Vietnam Customs (GDVC).
|Data: GDVC. Chart: Ngoc Thuy.|
This came as the country’s trade turnover in July stood at US$47 billion, the highest monthly figure year to date and was nearly US$7 billion higher than the average number recorded in the first half of this year.
In July, Vietnam’s exports rose 10.2% month-on-month to US$24.87 billion, while imports increased 6.7% to US$20.10 billion.
Overall, between January and July, Vietnam’s total export value topped US$147.6 billion, up 1.5% year-on-year, and total import value was US$139.2 billion, down 3%. As a result, Vietnam’s trade surplus during the period stood at US$8.4 billion, significantly higher than a surplus of US$1.8 billion in the same period last year.
Bao Viet Securities Company (BVSC) suggested amidst the influence of the pandemic on trade of countries worldwide and declines of 20-40% in exports in various ASEAN countries such as Singapore, Thailand, and Malaysia, Vietnam’s 1.5% export growth the seven-month period is encouraging.
As Vietnam’s major exporting markets, such as the US and EU, are reopening the economy, BVSC expects that Vietnam’s exports will increase positively in the last two quarters of the year and grow of 3-5% in 2020.
- Vietnam to push for trade and industrial cooperation with American partners
- Vietnamese agricultural exports to EU soar on EVFTA
- EVFTA to help realize Vietnam's high-income status ambition: Expert
- Largest online conference to boost Vietnamese agricultural export
- Vietnam trade minister highlights preliminary successes from EVFTA, CPTPP
- Vietnam, Israel accelerates negotiation for trade deal
- Vietnamese aviation authority proposes 3 options for transfer passengers from 3rd country
- Vietnam continues launching tour promos as pandemic contained
- Vietnam car imports surge over 85% in August
- Vietnam GDP growth to reach 8.1% in 2021: Goldman Sachs
Actual FDI in Vietnam down 3.2% to US$13.76 billion in Jan-Sept
Vietnam ranks fourth on Agoda 2020 travel wishlist
Telehealth in Vietnam connects over 1,000 health centers
Vietnam receives first int'l commercial flight after six months
Apple partner Pegatron mulls US$1-billion investment in hi-tech projects in Vietnam
Hanoi’s weekend pedestrian streets allowed to reopen from September 18
European investors propose US$1 billion logistics project in Vietnam
Vietnam says ASEAN doesn’t want to get trapped between competition of major powers
Vietnam launches advisory message to prevent Covid-19 spread