Vietnam first records US$2 billion trade surplus with G20

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Vietnam first records US$2 billion trade surplus with G20.

Vietnam’s exports to the group in the reviewed period increased 9.4% to US$75.22 billion, making up 77.78% of the country’s total export turnover. The increase was attributable to the growing export revenues of key products like telephones and components at US$2.32 billion, computers and components at US$1.04 billion and seafood at US$715 million.

Meanwhile, imports from G20 reached US$73.2 billion, down 1.7% or 77.3% of the country’s total import revenue.

Five key import products constituting 53% of the country’s total import revenue included machinery and equipment, computers, electronics and components telephones and components, cotton and steel.

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China remained the largest trade partner of Vietnam with trade exchange recording US$38.18 billion (up 2.4%), trailed by the US (25.72 billion, up 10.6%) and the EU (US$24.87 billion, up 6.1%).