Vietnam trade surplus hits new record of US$18.72 billion in 10-month
Vietnam's trade turnover is likely to reach US$439.82 billion in the January – October period, a slight increase from the US$428.63 billion in the same period last year.
Vietnam earned an estimated trade surplus of US$2.2 billion in October and consequently a record surplus of US$18.72 billion in the January–October period, compared to a US$9.01 billion surplus recorded in the same period last year, the General Statistics Office (GSO) has said in a monthly report.
|Data: GSO. Chart: Ngoc Mai.|
In October, Vietnam has exported goods worth an estimated US$26.7 billion, down 1.7% inter-monthly but up 9.9% year-on-year, while imports are estimated to increase by 1.2% month-on-month and 10.1% year-on-year to US$24.5 billion.
Overall, Vietnam's trade turnover is likely to reach US$439.82 billion in the January – October period, a slight increase from the US$428.63 billion recorded in the same period last year. Of the total, exports could amount to US$229.27 billion, up 4.7% year-on-year, and imports are estimated at US$210.55 billion, up 0.4%.
In the first ten months of 2020, Vietnam had 31 export items earning more than US$1 billion each, accounting for 91.8% of total exports, and five with over US$10 billion, or 59.9%. On the other hand, 34 items have import value of over US$1 billion, or 89.4% of total.
Vietnam's trade turnover is likely to reach US$439.82 billion in the January – October period. Photo: Pham Hung.
In the January – October period, the US remained Vietnam's biggest export market, spending US$62.3 billion on Vietnamese goods, up 24% year-on-year, followed by China (US$37.6 billion, up 14%), and the EU (US$28.9 billion, down 3%).
Meanwhile, China continued to be Vietnam's largest supplier, selling US$65.8 billion worth of goods to Vietnam, up 6.2% year-on-year.
South Korea claimed the second place by exporting US$37.4 billion worth of goods to Vietnam, down 5.3% year-on-year, followed by ASEAN countries with US$24.4 billion, down 8.5%.
- EVFTA provides platforms for businesses to navigate Covid-19 impacts
- Phu Quoc International Airport receives Airport Health Accreditation certification
- Vietnam’s trade turnover projected to reach record high of US$600 billion in 2021
- Addressing business concerns remain priority for localities: Deputy PM
- Vietnamese Gov’t lowers GDP growth forecast to 3.5% this year
- Vietnam among top 5 ideal destinations for expats in Asia-Pacific: Survey
- Aligned interests to take Vietnam-Germany relations to new height
- Vietnam welcomes US investments in high potential fields
- German investors choose Vietnam for their supply chain
- Vietnam, US to prioritize cooperation in digitalization
ASEAN+3 countries to prioritize Covid-19 response and recovery plan
EVFTA provides platforms for businesses to navigate Covid-19 impacts
Vietnam's child coronavirus vaccination drive kicks off in HCMC
Vietnam postpones 31st SEA Games to May 2022
Vietnam in need of national strategy for veggie exports to EU
Vietnam donates Laos US$2 million for pandemic fight
Mao Bookstore - the oldest bookstore in Dinh Le Street
Vietnam’s biggest Covid-19 makeshift hospital to be closed
UN Security Council holds emergency meeting over North Korea