Vietnam achieves record trade surplus of $13.5 billion
Structure of import - export turnover in the first eight months of 2020. Sketched by T.Bình |
The figures on import and export were announced by the General Department of Vietnam Customs on September 14.
In August, Vietnam's total import and export value reached $50.4 billion, with a total export value of $27.7 billion, up 11.4% and the total import value reached $22.7 billion, up 2.8% over the previous month.
With the prosperity in August, total value of import and export goods of Vietnam in the first eight months of the year reached $336.92 billion; of that total export value reached $175.36 billion, up 2.3% and total import value reached $161.9 billion, down 2.4% over the same period in 2019.
So, in the first eight months of the year, the trade balance reached trade surplus by nearly $13.5 billion, higher nearly 2.5 times than the surplus in the same period in 2019 ($5.47 billion).
In August, phones and components led in export turnover and also had a high increase compared to July with the result of nearly $5.35 billion, up by 24.8%. However, for the first eight months of the year, although this group still maintained its top position (reaching nearly $31.6 billion), turnover decreased by 5.4% over the same period in 2019.
Besides phones and components, in August, there were five other export commodity groups with a turnover of $1 billion or more, including computers, electronic products and components with $4.2 billion (up 3.4%) compared with July 2020; textiles and garments reached nearly $2.97 billion (down 2.5%); machinery, equipment, tools and spare parts reached nearly $2.7 billion (up 17.6%); footwear nearly $1.4 billion (up 1%); and wood and wood products reached $1.15 billion (up 1.9%).
In terms of import, the largest commodity group was computers, electronic products and components with a turnover of more than $6 billion, up 7.6% over the previous month. Generally, in the first eight months of the year, this group of goods reached $38.75 billion, up 15.6%, continuing to be the largest imported commodity group of Vietnam.
Related News
Seaports increase services to attract goods
19:35 | 01/05/2024 Import-Export
Notice for businesses exporting watermelons to China
09:40 | 25/04/2024 Customs
The General Department of Vietnam Customs strives to promote import and export growth
10:37 | 22/04/2024 Customs
Textile and garment exports recovered positively
10:26 | 18/04/2024 Import-Export
Latest News
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
Binh Duong aims to become logistics hub in southern region
19:41 | 01/05/2024 Import-Export
More News
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
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
Developing a strong brand contributes to increased export revenue
07:49 | 29/04/2024 Import-Export
Export turnover reaches over US$200 billion in the first half of April
15:04 | 28/04/2024 Import-Export
Your care
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
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