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Vietnam trade turnover reaches new record of US$482 billion in 2018
Hai Yen 16:54, 2018/12/27
Vietnam recorded trade surplus of US$7.2 billion in 2018, in which the domestic sector reported a trade deficit of US$25.6 billion, while foreign-invested firms posted a trade surplus of US$32.8 billion.
Vietnam's trade turnover reached a record high of US$482 billion in 2018, according to the General Statistics Office (GSO). 
 
Illustrative photo.
Illustrative photo.
Upon breaking down, the export value amounted to US$244.72 billion, up 13.8% year-on-year, and imports totaled US$237.51 billion, up 11.5%. 

This resulted in a trade surplus of US$7.2 billion in the whole 2018, in which the domestic sector reported a trade deficit of US$25.6 billion, while foreign-invested firms posted a trade surplus of US$32.8 billion. 

Of the total exports, the domestic sector exported goods worth US$69.2 billion, up 15.9% year-on-year and accounted for 28.3% of total number, while the foreign invested-sector’s export value was US$175.52 billion, up 12.9% year-on-year and accounting for 71.7% (down 0.6 percentage points against 2017).

According to the report, Vietnam's export staples in 2018 continued to increase compared to the previous year, including phones and accessories with US$50 billion, up 10.5%; garment US$30.4 billion, up 16.6%; electronic products, computers and components US$29.4 billion, up 13.4%; equipment, parts US$16.5 billion, up 28%; and footwear US$16.3 billion, up 11%. 

Additionally, Vietnamese fishery exports climbed 6.3% year-on-year to US$8.8 billion. Remarkable growth of export turnovers was also seen in vegetables with US$3.8 billion (up 9.2% year-on-year) and rice with US$3.1 billion (up 16% yearly). 

However, crude oil exports witnessed sharp declines in both value and volume compared to 2017, standing at US$2.3 billion, down 21.2% in value while the export volume fell 39.5%.
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