Vietnam records US$4-billion trade surplus in 30 days
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.
Australian and Irish teachers walk for disadvantaged Vietnamese children
Vietnam news in brief - November 30
Quan Chuong Gate brings Hanoi to life with 25 visual art performances
AI to help Hanoi accelerate smart city development
Data mining drives smart city building: vice chairman
Planning essential to promote smart city development
Amended Capital Law to develop Hanoi’s cultural industries
Vietnam advised to use cultural heritage as material for creative industries
Hanoi, British cities exchange experience in branding Creative City