Home / Economy / Trade - Service
Vietnam records US$4-billion trade surplus in 30 days
Nguyen Tung 08:11, 2020/08/21
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.

RELATED NEWS
TAG: Vietnam trade surplus exports imports Vietnam Customs GDVC smart phones electronics computers MOIT
Other news
16:38, 2020/38/21
VEPR revises down Vietnam's 2020 GDP growth forecast to 2.8%
A resurgence of Covid-19 in a number of countries across the world and geopolitical tensions between major powers continue to pose major risks to Vietnam’s economy.
15:33, 2020/33/20
Vietnam e-commerce market may lose US$2.6 billion on Covid-19
During the first four months of 2020, 57% of firms operating in the e-commerce market reported a 30% year-on-year decline in revenue.
16:24, 2020/24/17
Vietnam: Lessons drawn from first gov’t Covid-19 relief package
Amid the current uncertainties, the government should be visionary when adopting any support programs.
16:18, 2020/18/17
Vietnam economic recovery firms up in September: WB
Under growing uncertainties in both the domestic and international contexts, greater attention should be paid to mitigating risks facing public finance and the financial sector, stated the World Bank.
01:32, 2020/32/17
Vietnam to host week for promotion of Made-in-Vietnam goods
Made-in-Vietnam Goods Week aims to promote the campaign "Vietnamese buy Vietnamese goods."
12:52, 2020/52/16
Trade probes against Vietnam exports double in 9 months
To date, Vietnamese goods and products are subject to a total of 200 trade probes, in turn affecting a trade turnover of nearly US$12 billion.