Vietnam reported an estimated trade surplus of US$2.94 billion in October, further expanding the trade surplus to US$19.5 billion in the January–October period, the General Statistics Office (GSO) has said in a monthly report.

Vietnam's trade turnover is likely to have reached US$440.09 billion in the January – October period. Photo: Pham Hung.

In October, Vietnam exported goods worth an estimated US$27.26 billion, up 0.4% inter-monthly, while imports are estimated to have increased by 0.5% to US$24.32 billion.

Overall, Vietnam's trade turnover is likely to have reached US$440.09 billion in the January–October period, up 2.7% year-on-year, of which its export value amounted to US$229.79 billion, up 5% year-on-year, and imports are estimated at US$210.3 billion, up 0.3%.

Notably, foreign-invested firms recorded a trade surplus of US$28.92 billion during the period, in which exports stood at US$162.39 billion, up 7% year-on-year and accounting for 70.6% of the country's total.

Data: GDVC. Chart: Hai Yen.

Phones and parts posted the largest export turnover among export items during the January-October period with US$42.18 billion, down 4.2% year-on-year and accounting for 18.3% of Vietnam’s total exports.

In addition, electronic products, computers and components earned an estimated US$36.44 billion, up 25.2% year-on-year; garments with US$24.73 billion, down 9.4%; equipment and parts with US$21.17 billion, up 43.4%; footwear with US$13.53 billion, down 8.8%; wood and wooden products with US$9.78 billion, up 11.4%.

In the January – October period, the US remained Vietnam's biggest export market, spending US$62.36 billion on Vietnamese goods, up 24% year-on-year, followed by China with US$37.91 billion, up 14.8%, and the EU with US$33.22 billion, down 3.8%. 

Data: GDVC. Chart: Hai Yen.

Meanwhile, China continued to be Vietnam's largest supplier, selling US$65.62 billion worth of goods to Vietnam, up 5.9% year-on-year. 

South Korea claimed the second place by exporting US$37.47 billion worth of goods to Vietnam, down 5.1% year-on-year, followed by ASEAN countries with US$24.5 billion, down 8.1%.