Vietnam’s trade surplus hits record high of US$11 billion in Jan-Nov
The Hanoitimes - 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.
- Wuhan coronavirus could negatively affect Vietnam's economy: Fitch
- WEF wants to speed up Industry 4.0 Center project in Vietnam
- EP’s Committee on International Trade gives greenlight to EVFTA
- Switzerland supports trade agreement between Vietnam and EFTA
- Cambodia PM calls on Vietnam to invest in rice processing
- Vietnam to address US concern on fear of being labelled as currency manipulator
- Vietnam authority identifies 90,000 cases of trade fraud in 2019
- Vietnam, Japan sign 12 deals, agreeing to receive more Vietnamese workers
- Grab Vietnam appoints new Vietnamese CEO
- Japan extends support for Vietnam in commercializing 5G
Vietnam sets up task force to handle deadly Wuhan coronavirus
Hanoians enjoy meaningful cultural activities on Tet
Vietnam stands by China in coping with nCoV: PM
Vietnamese aviation market experiences competition rage
Hanoi strives to plant 200,000-250,000 new trees
Wuhan coronavirus could negatively affect Vietnam's economy: Fitch
Tet in a Hanoi family: Out with the old, in with the new
Mexican Ambassador to Vietnam: Our peoples share basic values
Hanoi streets decorated stunningly for Lunar New Year festival 2020