Surplus

Prime Minister Nguyen Xuan Phuc made the statement in his last monthly meeting before a new government is formed.

Phones and parts posted the largest export turnover among export items during January with US$6.1 billion, up US$3.4 billion against the same period of last year.

Vietnam is making efforts to balance trade with the US.

Not only does the Vietnamese government provide supporting packages for the business community, it has also given priority to reforming administrative procedures for greater convenience for the public.

Goldman Sachs expected exports to be Vietnam’s major driving force for economic recovery.

As of May 15, budget revenue collection reached VND529.6 trillion (US$22.7 billion), equivalent to 35% of the year's estimate.

Vietnam's exports rose 2% year-on-year to US$80.86 billion in the January-April period, and imports edged up 0.3% to US$78.08 billion.

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.

The FDI sector posted exports of US$149.83 billion in the January – October period, up 4.8% or US$6.93 billion year-on-year, accounting for 68.5% of Vietnam’s exports.

There could be another wave of investment capital to Vietnam in 2020 in anticipation of the enactment of the EU – Vietnam Free Trade Agreement, as well as impacts of the US – China trade war, leading to a surge in imports of equipment, machinery and input materials, said Minister of Industry and Trade Tran Tuan Anh.