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Vietnam’s trade surplus reaches record high of US$7.1 billion in Jan-Sep
Ngoc Mai 16:07, 2019/10/05
Vietnam’s trade turnover in the third quarter (Q3) stood at US$138.6 billion, up 9% year-on-year and significantly higher than US$116 billion recorded in Q1 and US$127 billion in Q2.
Vietnam’s trade surplus reached a record high of US$7.1 billion in the first nine months of 2019, on the back of a trade surplus of US$1.73 billion in September, according to the General Department of Vietnam Customs (GDVC). 
 
Illustrative photo.
Illustrative photo.
The figure has exceeded the previous estimation of the General Statistics Office (GSO) in the nine months at nearly US$6 billion. 

Vietnam’s trade turnover in the third quarter (Q3) stood at US$138.6 billion, up 9% year-on-year and significantly higher than US$116 billion recorded in Q1 and US$127 billion in Q2. 

Overall, the total import-export in the first nine months of 2019 reached almost US$382 billion, up 8.3% over the same period last year, an increase of over US$29 billion.

In the July – September period, Vietnam’s exports climbed 13.1% inter-quarterly to reach US$72 billion, up 10.4% year-on-year, while imports reached US$66.6 billion, up 5.1% quarter-on-quarter and 7.5% inter-annually. 

Some of Vietnam’s major export staples witnessed strong growth in the nine-month period included crude oil with nearly 3 million tons worth US$1.5 billion; timber and wooden products with US$7.46 billion, up 17% year-on-year; textile and garment with US$24.8 billion, up 10.4%; footwear with US$13.3 billion, up 13.5%; computers, electronic devices and parts with US$25.4 billion, up 16.8%; phones and parts with US$38.6 billion, up 5.1%. 

The US remains Vietnam's largest export. Exports to this market in the first nine months reached US$46.65 billion, up US$9.65 billion or 28% year-on-year. Adversely, China’s market covers the largest portion of Vietnam’s imports. Imports from this market reached US$55.39 billion, up US$8.12 billion, an increase of 17% over the same period last year.
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