30.12.2020, 14:23

Trade surplus hits record high of 19.1 billion USD


Trade surplus hits record high of 19.1 billion USD

Trade surplus hits record high of 19.1 billion USD

GSO said that 2020 records strong efforts of import and export activities, even in the context of the domestic, as well as the world, economy being negatively affected by the COVID-19 pandemic and global trade disruption.

Specifically,Vietnam’s total trade revenue is estimated at 543.9 billion USD, up 5.1% year on year. Of this, export value hits 281.5 billion USD and imports reach 262.4 billion USD, up 6.5 percent and 3.6 percent year on year, respectively.

According to the GSO, in 2020, 31 commodities enjoy export turnover of more than 1 billion USD, with six posting export values of over 10 billion USD, accounting for 64.3% of the total export turnover.

The heavy industry and mineral sector enjoys the biggest export value of 152.5 billion USD, up 11.3% year-on-year.

The US is Vietnam’s largest export market, with the export revenue of 76.4 billion USD, up 24.5%, followed by China with 48.5 billion USD, up 17.1%, and the EU with 34.8 billion USD, down 2.7%.

This year, import turnover of goods will reach 262.4 billion USD, up 3.6% compared to 2019. 35 imported goods earned turnover of over 1 billion USD each, while four items reached over 10 billion USD of export value each./.

BTA