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 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
14:06, 2024/11/20
Hanoi strengthens export competitiveness and trade protection measures
Hanoi will work with the Ministry of Industry and Trade to ensure that businesses and manufacturers are ready for new challenges.
10:49, 2024/11/16
US reiterates Vietnam is not manipulating currency
The US Treasury Department’s positive evaluation underscores Vietnam’s progress in balancing its economic and monetary policies while fostering strong bilateral relations with the US.
21:14, 2024/10/31
Vietnam, Brazil: Building bridges through shared history and new partnerships
Vietnam and Brazil are forging a future of mutual development, bridging continents through their shared history and new partnerships.
16:54, 2024/10/29
Hanoi to attract tourists by showcasing local specialties at wholesale markets
Hanoi aims to enhance supervision of food safety and traceability, along with promoting cashless transactions.
16:28, 2024/10/27
National E-commerce Week, Vietnam Online Shopping Day 2024 set to kick off
This year's event will focus on celebrating and raising the status of Vietnamese products, according to the Ministry of Industry and Trade.
18:39, 2024/10/21
Vietnamese goods in rising demand among Hanoi residents
The domestic market, estimated to be worth US$180 billion and projected to grow to US$350 billion by 2025, presents an opportunity for Vietnamese goods to gain a foothold domestically.