WORDS ON THE STREET 70th anniversary of Hanoi's Liberation Day Vietnam - Asia 2023 Smart City Summit Hanoi celebrates 15 years of administrative boundary adjustment 12th Vietnam-France decentrialized cooperation conference 31st Sea Games - Vietnam 2021 Covid-19 Pandemic
Home / Economy / Trade - Service
Vietnam posts record high monthly trade surplus of US$2.8 billion in July
Ngoc Thuy 11:55, 2020/08/13
Vietnam attained a trade surplus of over US$8.4 billion during the first seven months of this year, significantly higher than the surplus of US$1.8 billion recorded in the same period last year.

Vietnam posted a trade surplus of US$2.8 billion in July, the highest since the beginning of the year and far exceeding the previous estimate of US$1 billion from the General Statistics Office, according to the General Department of Vietnam Customs (GDVC).

 Data: GDVC. Chart: Ngoc Thuy. 

This came as the country’s trade turnover in July stood at US$47 billion, the highest monthly figure year to date and was nearly US$7 billion higher than the average number recorded in the first half of this year.

In July, Vietnam’s exports rose 10.2% month-on-month to US$24.87 billion, while imports increased 6.7% to US$20.10 billion.

Overall, between January and July, Vietnam’s total export value topped US$147.6 billion, up 1.5% year-on-year, and total import value was US$139.2 billion, down 3%. As a result, Vietnam’s trade surplus during the period stood at US$8.4 billion, significantly higher than a surplus of US$1.8 billion in the same period last year.

Bao Viet Securities Company (BVSC) suggested amidst the influence of the pandemic on trade of countries worldwide and declines of 20-40% in exports in various ASEAN countries such as Singapore, Thailand, and Malaysia, Vietnam’s 1.5% export growth the seven-month period is encouraging.

As Vietnam’s major exporting markets, such as the US and EU, are reopening the economy, BVSC expects that Vietnam’s exports will increase positively in the last two quarters of the year and grow of 3-5% in 2020.

RELATED NEWS
TAG: trade surplus covid-19 coronavirus nCoV pandemic exports imports GDVC customs July record high ASEAN United States EU
Other news
14:29, 2024/09/07
Changes needed for PDP VIII to ensure viable power supply: Trade Ministry
The Ministry of Industry and Trade (MoIT) said it is planning to revise the Power Development Plan (PDP VIII), a little over 15 months after its approval, to ensure a feasible energy supply.
11:12, 2024/09/02
Vietnam Gov’t approves pilot smart border gate project with China
The project focuses on transforming the Huu Nghi International Border Gate into a "model border gate", the most advanced land border gate in ASEAN.
22:34, 2024/08/30
Hanoi aims to speed up e-commerce industry
There has been a boom in online trading in the major cities of Vietnam, including Hanoi.
21:13, 2024/08/29
Provincial leaders responsible for combating IUU fishing: PM
The European Commission is set to conduct a 5th round of inspection in Vietnam in October.
18:31, 2024/08/28
PM urges tightening of imports via e-commerce activities
The move is aimed at promoting the development of the domestic market.
19:58, 2024/08/27
Vietnam set for 6.1% GDP growth in 2024: WB
The World Bank expected Vietnam's growth prospects to improve thanks to a recovery in exports, tourism, consumption, and investment.