A trade surplus of US$10.08 billion as of August 15 puts Vietnam in a strong position to surpass the record figure of US$11.12 billion in 2019.
Vietnam recorded a trade surplus of over US$4 billion in trade surplus in just 30 days, resulting in a surplus of US$10.08 billion in the year to August 15, a surge of 67% from US$6.02 billion on July 15, according to the General Department of Vietnam Customs (GDVC).
Data: GDVC. Chart: Nguyen Tung. |
This put Vietnam in a strong position to surpass the record trade surplus figure of US$11.12 billion in 2019 with four months left for the year.
In the first fortnight of August, the country reported a surplus of US$1.69 billion, with exports at US$12.68 billion, up 16.2% compared to the previous 15 days, and imports at US$10.99 billion, up 4.9%.
As of August 15, Vietnam’s trade turnover slid 0.4% year-on-year to US$310.41 billion, in which exports made up US$160.24 billion and imports of US$150.16 billion. During the period, foreign-invested firms produced a trade surplus of US$19.78 billion.
Among Vietnam’s key export staples, phones and parts earned the largest export turnover during the first half of August with US$2.58 billion; followed by computers, electronic products and parts (US$1.9 billion); textile (US$1.36 billion); and machinery, equipment and parts (US$1.11 billion).
The Ministry of Industry and Trade (MoIT) in its socio-economic development plan for the 2021 – 2025 period predicted the country’s exports to expand at an annual growth rate of 5% and reach a turnover of US$340 billion by 2025.
Meanwhile, imports during the 2021 – 2025 would expand at an annual rate of 4.9% to US$330 billion by 2025, resulting in a trade surplus of around US$10 billion at that time, while import growth of domestic enterprises is set at 6% per year.
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
-
Capital Law revision helps Hanoi promote role as nation’s socio-economic hub
-
Vietnam news in brief - April 25
-
Vietnamese contemporary ballet celebrates Europe Day
-
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
-
Colorful stage shows in Hoan Kiem Lake pedestrian area