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Trade - Service
Aug 16, 2018 / 17:41

Vietnam's monthly trade value reaches all-time high in July

Ngoc Thuy

Vietnam`s export-import turnover in the first seven months of 2018 was higher than that of the whole year of 2013, stated General Department of Vietnam Customs (GDVC).

Vietnam's trade turnover in July stood at an all-time high of US$41.27 billion on a monthly basis, up 6.1% against June, according to the GDVC. 
 
In July, Vietnam exported US$20.32 billion worth of goods, up 2.4% compared to June, while the country's import turnover was up 10% to hit US$20.95 billion. 

This was the second month in 2018 in which both export and import turnovers exceed US$20 billion, the GDVC noted. 

Notably, Vietnam's export-import turnover in the first seven months of 2018 was higher than that of the whole year of 2013, stated the GDVC. In the January - July period, Vietnam's trade value stood at US$266.17 billion, up 13.5% year-on-year or US$31.74 billion, and is higher than US$264.07 billion in 2013. 

During this period, both exports and imports maintained high growth rates from a year earlier, for which exports reached US$134.51 billion, up 16% year-on-year, and imports of US$131.66 billion, up 11% year-on-year. 
 
Source: GDVC.
Due to a strong growth in imports over the last three months, Vietnam's trade balance was shifted from a surplus in the January - April period to a deficit in May and July. However, Vietnam still recorded a trade surplus of US$2.85 billion in the first seven months, standing in sharp contradiction with a trade deficit of US$2.61 billion recorded in the same period of last year. 

Additionally, trade turnover of the FDI sector was reported at US$27.16 billion in July, up 10.4% month-on-month, taking the total value in the first seven months of the sector to US$172 billion, up 13.3% or US$20.24 billion year-on-year. 

Meanwhile, the sector's import value climbed 18.3% month-on-month in July to US$12.96 billion, resulting in the figure of US$77.81 billion in the January - July period, up 10.4% year-on-year. 

This resulted in a trade surplus of US$1.24 billion for the FDI sector in July and of US$16.39 billion in the first seven months of 2018. 

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