Vietnam’s trade surplus rises beyond US$1 billion in first two months

Thursday, 2018-03-01 17:34:18
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The foreign-invested sector brought in export revenues of US$23.96 billion.
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NDO - Vietnam recorded an estimated trade surplus of US$1.08 billion in the first two months of 2018, according to the General Statistics Office (GSO).

Official data shows the country earned an approximate US$33.62 billion in exports, up 23% from the same period last year, in which the domestic sector’s export revenues rose by 25.7% to US$9.66 billion.

A strong contributor was the foreign-invested sector, bringing in export revenues, including oil, of US$23.96 billion, a year-on-year increase of nearly 22%.

China remained the largest buyer of Vietnamese goods with US$6.2 billion, up nearly 65% from a year ago, closely followed by the US and the EU with US$6 billion and US$5.8 billion respectively.

Vietnam’s exports to ASEAN, Japan, and the Republic of Korea also saw impressive rises.

On the other side, imports rose by only 15% during the first two months of 2018 to US$32.54 billion. Imports by domestic and foreign-invested enterprises stood at US$13.34 billion and US$19.2 billion respectively.

China was also the largest source of Vietnam’s imports worth US$9.4 billion, up 24.4% over the same period last year.

Vietnam’s imports from the Republic of Korea came second at US$7.4 billion, followed by US$4.4 billion worth of goods from the ASEAN region.