Trade Surplus

The foreign-invested sector made up 76.4% of Vietnam’s total exports in the first two months with US$37.07 billion, representing an increase of 30.5% year-on-year.

Vietnam’s exports in January surged over 50% against the same period of last year.

Strong currency inflows from trade surpluses and FDI will support the VND, while an adequate foreign reserve position will also allow the central bank to ease off its foreign currency purchases over the near term.

Trading activities were among the highlights of the economy in 2020 with an all-time high trade surplus of US$19.1 billion and contributed to a positive economic growth of 2.91%.

Vietnam’s trade turnover is expected to hit $540 billion this year, marking a year-on-year increase of $23 billion.

The US$300-billion export target set in early 2020 remains challenging, requiring not only strong efforts from local enterprises, but also the recovery of global demand amid complicated Covid-19 situation.

Vietnam's trade turnover is likely to reach US$489.1 billion in the January – November period, representing an increase of 3.5% year-on-year.

The domestic-invested sector's exports are expected to expand 20.2% year-on-year to US$71.83 billion between January and September.

In addition to higher trade turnover, the implementation of the two new-generation and high-standard deals is pushing Vietnam to revise its legal framework to ensure compatibility.

The record US$13.5 billion trade surplus in the eight-month period far exceeded the unprecedented figure of US$11.12 billion last year.