Jul 15, 2020 / 12:34

Vietnam trade surplus hits nearly US$5.5 billion in Jan-Jun

The Hanoitimes - Vietnam’s external trade decreased 1.4% year-on-year to nearly US$240.12 billion in the six-month period.

Vietnam posted a trade surplus of US$5.46 billion in the first six months of 2020, thanks to a surplus of US$1.8 billion in June, according to the General Department of Vietnam Customs (GDVC).

 Data: GDVC. Chart: Hai Yen. 

The government-run General Statistics Office last month estimated a trade surplus of US$4 billion for the six-month period.

In June, exports rose by 17.6% month-on-month to US$22.5 billion, while imports reached US$20.7 billion, up 14%. This resulted in a trade surplus of US$1.8 billion, marking the fourth month in which trade surplus topped US$1 billion in the first half this year, according to GDVC.

Revenue of some of Vietnam’s major export staples soared in the second half of June compared to the first half. They included phones and parts with an increase of 26.9% or US$432 million; textile with 24.8% or US$287 million; computers, electronic devices and parts with 13% or U$241 million; machinery, equipment and parts, up 16% or US$141 million.

Overall, the country’s external trade decreased 1.4% year-on-year to nearly US$240.12 billion in the six-month period. Upon breaking down, exports edged up 0.2% year-on-year to US$122.79 billion, and imports slipped 2.9% to US$117.33 billion.

Foreign-invested companies recorded a trade value of US$145.38 billion during the period, down 5.5% year-on-year, including $79.72 billion in exports, accounting for 64.9% of Vietnam’s export turnover. They spent US$65.66 billion on imports, down 5.3%, making up 56% of total imports. This resulted in a trade surplus of US$14.06 billion.

Meanwhile, the domestic-invested sector recorded a trade value of US$94.74 billion, up 5.7% or US$5.14 billion, or 39.4% of Vietnam’s total trade volume.