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 trade surplus more than doubles in Jan-Aug
Nguyen Tung 08:49, 2020/09/15
The record US$13.5 billion trade surplus in the eight-month period far exceeded the unprecedented figure of US$11.12 billion last year.

In the first eight months of 2020, Vietnam’s trade surplus reached an all-time high of US$13.5 billion, representing a 150% increase compared to the same period of last year (US$5.47 billion), according to the General Department of Vietnam Customs (GDVC).

 Data: GDVC. Chart: Nguyen Tung. 

The figure also far exceeded the estimated US$11.9 billion from the General Statistics Office for the period and the unprecedented trade surplus of US$11.12 billion last year.

In August, Vietnam’s exports rose 11.4% month-on-month to US$27.7 billion, while imports increased 2.8% to US$22.7 billion.

Overall, between January and August, Vietnam’s total export value topped US$175.36 billion, up 2.3% year-on-year, and total import value was US$161.9 billion, down 2.4%.

Six groups of export staples with turnover above US$1 billion in August included phones and parts with US$5.35 billion, up 24.8% month-on-month; computers, electronic products and parts with US$4.2 billion, up 3.4%; textile with US$2.97 billion, down 2.5%; machinery and equipment with US$2.7 billion, up 17.6%; footwear with US$1.4 billion, up 1%; wood and wooden products with US$1.15 billion, up 1.9%.

For the January – August period, phones and parts earned the largest export turnover of US$31.6 billion, down 5.4% year-on-year.

Meanwhile, Vietnam spent most on importing computers, electronic products and parts with over US$6 billion last month, up 7.6% month-on-month, accumulating a total of US$38.75 billion in the eight-month period, or an increase of 15.6% year-on-year.

RELATED NEWS
TAG: Vietnam trade surplus exports imports record high 8 months GDVC gso phones computers
Other news
12:38, 2024/04/13
Vietnam, China to step up cooperation strategy for mutual development
Both sides are expected to build a bridge over the Red River in the border area of Bat Xat, Lao Cai (Vietnam), and Ba Sai, Yunnan (China), among other initiatives.
17:04, 2024/04/12
PM orders urgent measures to address volatile gold prices
The measures are aimed at ensuring a stable and efficient gold market.
17:58, 2024/04/10
Vietnam earns US$1.4 billion from rice exports in Q1
Vietnam is targeting $5 billion in rice exports this year. The country currently ranks third in the world in terms of rice exports.
11:15, 2024/04/09
Russia’s Zarubezhneft Group explores opportunity for offshore wind projects in Vietnam
Both sides are expected to set up a joint working group to strengthen cooperation in oil and gas projects.
12:22, 2024/04/08
Vietnam poised to reap rewards of rebound in global demand: AMRO
Given its continued allure for FDI and burgeoning opportunities in renewable energy, the country is well-positioned to attract green investments that can drive sustainable growth.
10:42, 2024/04/07
India, Vietnam seek strong development objectives: Ambassador
India's Guest of Honor status demonstrates the close economic relations between the two countries contributed by the increasing presence of Indian businesses in Vietnam and growing trade.