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Quarter I: Vietnam saw a trade surplus of over USD 18.5 billion to the US

14/04/2021

The US is the market with the strongest export growth in the first three months of this year, increased by nearly 39%.

According to preliminary statistics of the General Department of Customs, the total value of goods imported and exported in March reached USD 58.11 billion, an increase of 42.2% over the previous month. In which, export value reached USD 29.65 billion, an increase of 46.8% over February; import  value reached USD 28.46 billion, an increase of 37.8%.

In the first quarter of 2021, the total value of goods imported and exported of the country reached USD 154.01 billion, an increase of 25.2% over the same period last year.

In particular, the value of exported goods reached USD 78.40 billion, an increase of 23.7%, equivalent to an increase of USD 15.01 billion and imports reached USD 75.61 billion, an increase of 26.8%, equivalent to an increase of USD 15.98 billion.

The US is the market with the strongest export growth in the first three months of this year, with an increase of nearly 39% over the same period, reaching USD 22.24 billion; followed by China, with an increase of 35.2%, reaching USD 12.56 billion. EU ranked third with the first quarter export value reached USD 9.36 billion, an increase of 14.5%.

In the opposite direction, imports from China led the way with an increase of 50.8%, with a value of USD 24.34 billion, followed by ASEAN with an increase of 38.2%, reaching nearly USD 10.3 billion. Imports from the EU increased by 16.5%, reaching nearly USD 4 billion, while the US increased by only 5.2%, reaching USD 3.7 billion.

Thus, the merchandise trade balance saw a surplus of nearly USD 1.2 billion in March. Accumulated over the first quarter of 2021, the country's merchandise trade balance saw a surplus of USD 2.79 billion.

In which, Vietnam's trade surplus with the US of over USD 18.5 billion and the trade deficit with China of USD 11.8 billion.

 

Kylie Nguyen

© 2019 Vietnam Bank for Agriculture and Rural Development No. 2 Lang Ha street, Ba Dinh district, Hanoi, Vietnam
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