13.07.2020, 13:47

Vietnam’s Jan-June trade surplus seen expanding to $5.46bln despite virus


Vietnam’s Jan-June trade surplus seen expanding to $5.46bln despite virus

The country’s trade turnover reached over $240 billion in the period, down 1.4% year-on-year, of which export value was estimated at $122.7 billion and import revenue was at $117.3 billion.

In June, the economy recorded a trade surplus of $1.85 billion in a total import-export revenue at $43.3 billion, of which its export value is at $22.5 billion and imports are estimated at $20.7 billion.

Foreign-invested firms enjoyed a trade surplus of $3.6 billion in a total trade revenue of $25 billion in June. In the six-month period, the FDI sector’s trade surplus seen at $14 billion on over 145 billion trade revenue.  

Among Vietnam’s key export products, phones and parts are predicted to earn the largest export turnover during the January-May period at $18.3 billion, down 7.1% year-on-year.

Electronic products, computers, and components bagged $19.5 billion, up 25.4% year-on-year while garments exports dropped nearly 13 percent to $13 billion. Rice exports surged 18.6 percent to 1.7 billion in the reported period.

In the six-month period, the US remained Vietnam’s biggest export market. It spent $31.5 billion on Vietnamese goods. While Vietnam imported $7 billion from the trade partner, leaving a trade surplus for Vietnam at $24.5 billion.

Meanwhile, China continued to be Vietnam’s largest supplier which exported $34.9 billion worth of goods to Vietnam and imported $19.7 billion from Vietnam. Vietnam suffered $15.2 billion trade deficit with China during the period.