Vietnam’s trade turnover in the first nine months of 2020 stood at US$388.62 billion, representing an increase of 1.7% year-on-year or US$6.6 billion, according to the General Department of Vietnam Customs (GDVC).

Vietnam recorded a trade surplus of US$16.52 billion in 9-month period.

Upon breaking down, the export value was US$202.57 billion during the period, up 4.1% year-on-year, while imports reached US$186.05 billion, down 0.7%.

This resulted in a trade surplus of US$16.52 billion, slightly lower than the estimated figure of US$16.99 billion of the General Statistics Office for the January – September period.

The growth of import and export activities in the past few months, though not as high as in recent years, is still an encouraging result amidst difficulties of global trade due to the effects of the Covid-19 pandemic, asserted Bao Viet Securities Company (BVSC).

In September, the total value of imports and exports continued to set a new record high and reached over US$50-billion mark to US$51.37 billion for the second consecutive month since the beginning of the year, or an increase of 1.9% year-on-year.

As such, exports grossed an estimated  US$27.16 billion, down 1.9% month-on-month, while imports rose 6.5% month-on-month to reached US$24.2 billion.

The growth of imports and exports in two consecutive months of August and September raised total trade volume in the third quarter to US$148.8 billion, up 27% compared to the previous quarter, the largest since the beginning of the year.

The export turnover in the third quarter of 2020 reached US$79.8 billion, up 34% year-on-year, while the import value was US$69 billion, up 20.2% compared to the second quarter.