Vietnam’s trade surplus reached a record high of US$7.1 billion in the first nine months of 2019, on the back of a trade surplus of US$1.73 billion in September, according to the General Department of Vietnam Customs (GDVC).
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Vietnam’s trade turnover in the third quarter (Q3) stood at US$138.6 billion, up 9% year-on-year and significantly higher than US$116 billion recorded in Q1 and US$127 billion in Q2.
Overall, the total import-export in the first nine months of 2019 reached almost US$382 billion, up 8.3% over the same period last year, an increase of over US$29 billion.
In the July – September period, Vietnam’s exports climbed 13.1% inter-quarterly to reach US$72 billion, up 10.4% year-on-year, while imports reached US$66.6 billion, up 5.1% quarter-on-quarter and 7.5% inter-annually.
Some of Vietnam’s major export staples witnessed strong growth in the nine-month period included crude oil with nearly 3 million tons worth US$1.5 billion; timber and wooden products with US$7.46 billion, up 17% year-on-year; textile and garment with US$24.8 billion, up 10.4%; footwear with US$13.3 billion, up 13.5%; computers, electronic devices and parts with US$25.4 billion, up 16.8%; phones and parts with US$38.6 billion, up 5.1%.
The US remains Vietnam's largest export. Exports to this market in the first nine months reached US$46.65 billion, up US$9.65 billion or 28% year-on-year. Adversely, China’s market covers the largest portion of Vietnam’s imports. Imports from this market reached US$55.39 billion, up US$8.12 billion, an increase of 17% over the same period last year.
