Vietnam’s trade surplus hits record high of US$11 billion in Jan-Nov
The FDI sector posted exports of US$165.03 billion in the January – November period, up 4.1% year-on-year, accounting for 68.3% of Vietnam’s exports.
Vietnam posted a record high of US$10.94 billion in trade surplus in the first 11 months of 2019, higher than a surplus of US$9.01 billion recorded one month earlier, according to the General Department of Vietnam Customs (GDVC).
Data: GDVC. Chart: Ngoc Thuy. |
In the first 11 months of the year, the country’s external trade volume hit US$472.36 billion, up 7.3% compared to the same period in 2018. Upon breaking down, exports totaled US$241.65 billion, up 7.9% year-on-year, and imports reached US$230.71 billion, representing an increase of 6.6%.
In the January – November period, foreign-invested companies had a total import-export value of US$297.87 billion, up 3.2% year-on-year. This included $165.03 billion in exports, up 4.1% year-on-year, accounting for 68.3% of Vietnam’s export turnover, and US$132.84 billion in imports, up 2.1%, making up 57.6% of total imports.
Meanwhile, the domestic sector recorded a trade value of US$174.49 billion, or 36.9% of Vietnam’s total trade revenue, up 15.1% year-on-year.
In a press conference held by the Ministry of Industry and Trade (MoIT) on December 12, Deputy Minister of Industry and Trade Do Thang Hai said Vietnam’s trade turnover is on track to exceed the US$500-billion mark for the first time by the second half of December.
Amid a slowdown in global economy and uncertainties around the world, particularly the US – China trade war and growing protectionism, this is an encouraging result for Vietnam, added Hai.
Other News
- Vietnam among Asia-Pacific's fastest growing economies: FedEx
- Vietnam’s stock market remains attractive investment channel: Expert
- Cuba appreciates Vietnam’s support in food and fisheries production
- Vietnam, China to step up cooperation strategy for mutual development
- PM orders urgent measures to address volatile gold prices
- Vietnam earns US$1.4 billion from rice exports in Q1
- Russia’s Zarubezhneft Group explores opportunity for offshore wind projects in Vietnam
- Vietnam poised to reap rewards of rebound in global demand: AMRO
- India, Vietnam seek strong development objectives: Ambassador
- Vietnam’s economy set for speedy recovery in latter half of 2024
Trending
-
Hanoi, UNESCO pledge further cooperation
-
Vietnam news in brief - April 25
-
Vietnamese contemporary ballet celebrates Europe Day
-
Capital Law revision helps Hanoi promote role as nation’s socio-economic hub
-
IT training urged to focus on semiconductors
-
Voluntary social security should cover larger part of informal sector: Experts
-
ASEAN Future Forum 2024: Promoting regional centrality
-
Central bank moves gold auction to tomorrow
-
[Video]Hanoi beauty spots featured in saxophone legend Kenny G's music video