Vietnam's trade surplus in the first quarter has gone up to US$2.7 billion, exceeding the previous figure of US$1.3 billion, informed GDVC.
Trade surplus reaching US$2.7 billion in first quarter.
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In the first quarter, it is estimated that around 10 categories of goods recorded export turnover of over US$1 billion.
Top of the list is phones and phone components with US$12.6 billion, up US$5 billion or equivalent to growth rate of 62.3% year on year. Followed by textile with US$6.425 billion, increasing 14.9%; computer, electronics and components reached US$6.334 billion, up 14.1%; footwear is recorded at US$3.444 billion, up 10.6%.
Agro-forestry - fishery also experienced high growth rate after the first quarter. Despite being imposed high tariffs from the US and European Union (EU), as well as a yellow card from EU for illegal, unreported and unregulated (IUU) fishing, fishery export turnover in the first quarter is estimated at US$1.768 billion, increasing 17.6%; vegetable and fruits of US$970 million, increasing 38.5%; rice of US$745 million, up 38.1%.
On the opposite direction, import turnover in the first quarter is posted at US$52.87 billion, resulting in a trade surplus of nearly US$2.7 billion in the first quarter, more than double the estimated figure of US$1.3 billion.
In 2017, Vietnam's total trade turnover exceeded US$425 billion, up 21% compared to the 2016's figure, stated in 2017 trade report of the Ministry of Industry & Trade.
Adding up to the high turnover was the all-time high trade surplus recorded at US$2.92 billion.
The impressive growth rate in trade relation between Vietnam and its trading partners in 2017, according to the report, were thanks to a series of measures to facilitate trade, such as administrative reform, improved business environment, removing business conditions, and the implementation of national single window.
