Vietnam's trade surplus reachs nearly 1.5 billion USD in first four months
Vietnam gained a trade surplus of nearly 1.5 billion USD in the first four months of this year. The trade results of foreign direct invested firms were more remarkable than those of the domestic sector in terms of import and export value.
The General Statistics Office (GSO) said in April, Vietnam reached a trade surplus of about 100 million USD with its export value to 14.1 billion USD and import value at 14 billion USD.
In January-April, the country’s total exports witnessed a year-on-year growth of 6% to 52.9 billion USD, according to the office.
The country earned a trade surplus of nearly 1.5 billion USD in the first four months of this year.
In the reviewed time, export value of the domestic economic companies reached 15.11 billion USD, increasing by 2.9% against the same period last year, while the foreign direct invested (FDI) enterprises saw a year-on-year increase of 7.3% in export value to 37.76 billion USD.
According to the General Statistics Office, this was a result of the positive growth of national exports, in the circumstance of a decrease in crude oil exports by 52% in the first four months of 2016.
During the period, 30 key export products gained a strong growth in export value, including vegetable and fruit with a increase of 43.3% to 741 million USD; telephone and its components, up 23.8% to 474 million USD; and machine and equipment, up by 15.8% to 2.86 billion USD, apart from petrol products, up by 12.6% to 259 million USD; and handbags, hats and umbrellas, up by 10.8% to 1.36 billion USD.
At present, the US has been still the largest export market of Vietnam with 11.4 billion USD since the beginning of the year, up 15.5 % over the same period of 2015. The follower was the EU with 10.3 billion USD, up 10,4 %, China reached 5.8 billion USD, up 16.5%.
However, some other key export products saw a low growth such as seafood (up by 3.8%), bamboo and rattan (up by 2.6%), footwear (up by 4.8%), and tea (down by 14.2%), in addition to cassava (down by 23.5%).
According to the GSO's report, in the reviewed time, the national import value decreased by 1.2% over the same period of 2015 to 51.4 billion USD, including 20.7 billion USD from domestic enterprises and 30.7 billion USD from FDI firms.
The products having a large decrease in import value included animal feed (down by 17.7%), petrol (33.3%), and completely built-up automobiles (23.5%).
The GSO said value of imports from China fell strongly to 14.7 billion USD in the first four months, reducing trade deficit with China by 12.7% year-on-year to 8.9 billion USD.
In January-April, the country’s total exports witnessed a year-on-year growth of 6% to 52.9 billion USD, according to the office.
The country earned a trade surplus of nearly 1.5 billion USD in the first four months of this year.
In the reviewed time, export value of the domestic economic companies reached 15.11 billion USD, increasing by 2.9% against the same period last year, while the foreign direct invested (FDI) enterprises saw a year-on-year increase of 7.3% in export value to 37.76 billion USD.
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During the period, 30 key export products gained a strong growth in export value, including vegetable and fruit with a increase of 43.3% to 741 million USD; telephone and its components, up 23.8% to 474 million USD; and machine and equipment, up by 15.8% to 2.86 billion USD, apart from petrol products, up by 12.6% to 259 million USD; and handbags, hats and umbrellas, up by 10.8% to 1.36 billion USD.
At present, the US has been still the largest export market of Vietnam with 11.4 billion USD since the beginning of the year, up 15.5 % over the same period of 2015. The follower was the EU with 10.3 billion USD, up 10,4 %, China reached 5.8 billion USD, up 16.5%.
However, some other key export products saw a low growth such as seafood (up by 3.8%), bamboo and rattan (up by 2.6%), footwear (up by 4.8%), and tea (down by 14.2%), in addition to cassava (down by 23.5%).
According to the GSO's report, in the reviewed time, the national import value decreased by 1.2% over the same period of 2015 to 51.4 billion USD, including 20.7 billion USD from domestic enterprises and 30.7 billion USD from FDI firms.
The products having a large decrease in import value included animal feed (down by 17.7%), petrol (33.3%), and completely built-up automobiles (23.5%).
The GSO said value of imports from China fell strongly to 14.7 billion USD in the first four months, reducing trade deficit with China by 12.7% year-on-year to 8.9 billion USD.
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Vietnam news in brief - August 24
Read The Hanoi Times to stay up to date on developments in Vietnam.
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