Trade surplus hits record high of US$17 billion over nine-month period
Total merchandise import and export turnover during September was at an estimated US$51.5 billion, a rise of 15% over the same period from last year, bringing the overall nine-month import and export turnover to US$388.73 billion, representing an annual rise of 1.8%.
In terms of the record trade surplus recorded over the reviewed period, major contributions came from the foreign-invested sector.
The sector, which includes crude oil, ran a trade deficit of US$27.51 billion, while the domestic economic sector witnessed a trade deficit of US$10.52 billion.
With regard to the export and import of goods throughout the reviewed period, the GSO reported that export turnover was estimated to stand at US$202.86 billion, a rise of 4.2% on-year.
The nine-month period witnessed 30 items with an export turnover of over US$1 billion, account for 91.3% of the country’s overall export turnover. Among these, there were five items which recorded export turnover of more than US$10 billion, making up 59.8%.
Throughout the reviewed period, the United States remained the largest export market for local goods, with a turnover of US$54.8 billion, marking an annual increase of 22.9%. This was followed by China at US$31.9 billion, a rise of 12.7%, the EU at US$26 billion, down by 2.6%, ASEAN at US$17 billion, a fall of 12.5%, the Republic of Korea (RoK) at US$14.5 billion, a decline of 2%, and Japan at US$14.1 billion, a drop of 5.7%.
Furthermore, import turnover was estimated to have reached US$185.87 billion, representing a decline of 0.8% from the same period last year, with 32 import items valued at more than US$1 billion, making up 88.3% of total Vietnamese import turnover.
In terms of the import market, China represents the country’s largest import market throughout the nine-month period, with a turnover of US$56.8 billion, an annual rise of 2.7%.
The northern neighbour was trailed by the RoK at US$32.8 billion, ASEAN at US$21.8 billion, Japan at US$14.6 billion, the EU at US$10.8 billion, and the US at US$10.5 billion.
Related News
Enhance the core values of the national brand
15:36 | 02/05/2024 Import-Export
Vietnam has a trade deficit of over US$17 billion with China
15:34 | 24/04/2024 Import-Export
Export turnover reaches over US$200 billion in the first half of April
15:04 | 28/04/2024 Import-Export
Developing a strong brand contributes to increased export revenue
07:49 | 29/04/2024 Import-Export
Latest News
Some 51,600 new firms established in four months
17:17 | 02/05/2024 Import-Export
Agro-forestry-aquatic product exports post trade surplus of 4.74 billion USD in four months
17:13 | 02/05/2024 Import-Export
Solutions for maintaining Vietnam's position as a bright spot for foreign direct investment
15:36 | 02/05/2024 Import-Export
FDI disbursement in January-April period reaches five-year record
19:43 | 01/05/2024 Import-Export
More News
Binh Duong aims to become logistics hub in southern region
19:41 | 01/05/2024 Import-Export
Digital transformation – optimal choice for Vietnamese garment & textile firms
19:39 | 01/05/2024 Import-Export
Infrastructure development creates momentum for exports to "neighboring" markets
19:36 | 01/05/2024 Import-Export
Seaports increase services to attract goods
19:35 | 01/05/2024 Import-Export
The supporting industrial enterprises transform for sustainable development
08:20 | 01/05/2024 Import-Export
Foreign investment disbursement hits record high in the first four months
13:36 | 30/04/2024 Import-Export
Vietnam textile and garment strives to increase the localization rate
06:46 | 30/04/2024 Import-Export
Central Highlands needs to develop border gate economic zones for higher export
16:41 | 29/04/2024 Import-Export
RoK burgeoning market for Vietnam’s agro-forestry-fisheries exports
16:37 | 29/04/2024 Import-Export
Your care
Some 51,600 new firms established in four months
17:17 | 02/05/2024 Import-Export
Agro-forestry-aquatic product exports post trade surplus of 4.74 billion USD in four months
17:13 | 02/05/2024 Import-Export
Enhance the core values of the national brand
15:36 | 02/05/2024 Import-Export
Solutions for maintaining Vietnam's position as a bright spot for foreign direct investment
15:36 | 02/05/2024 Import-Export
FDI disbursement in January-April period reaches five-year record
19:43 | 01/05/2024 Import-Export