Vietnam posts US$7 billion trade surplus in 10 months

Tuesday, 2019-10-29 16:16:44
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Phones and components post the highest export revenue of US$43.5 billion in the 10-month period.
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NDO – Vietnam is estimated to reach an import-export revenue of US$427.05 billion in the first 10 months of 2019 and a trade surplus of US$7 billion during the period, the General Statistics Office (GSO) announced on October 29.

During the 10-month period, the export revenue was reported at VND217.05 billion, up 7.4% compared to the same period in 2018. The domestic economic sector has gradually asserted its position and posted an export revenue of US$66.63 billion, up 16.2% over the same period last year, accounting for 30.7% of Vietnam’s total import-export revenue.

Meanwhile, the foreign direct investment (FDI) sector (including crude oil) had an export revenue of US$150.42 billion, up 3.9% over the corresponding period last year and accounting for 69.3% of Vietnam’s total import-export revenue in the 10-month period.

In the January-October period, the total import revenue of Vietnam was estimated at US$210 billion, up 7.8% over the same period in 2018.

Vietnam also saw 29 types of goods with the export revenue exceeding US$1 billion each which made up 91.2% of the total export revenue. In the meantime, 32 types of goods posted an import revenue of over US$1 billion each.

The US continues to be the largest exporting market of Vietnam with an export revenue of US$49.9 billion, up 26.6% compared to the same period last year. The EU market came in second with an export revenue of US$34.2 billion, down 1.9% over the same period in 2018.

Meanwhile, China is the largest importing market of Vietnam, followed by the Republic of Korea, ASEAN and Japan.