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The two-month trade surplus is the highest in 10 years


In the first two months of the year, the trade balance of goods reached a trade surplus of over USD 4.7 billion, the highest compared to the same period since 2014.

According to data just released by the General Statistics Office, in the first two months of the year, the total import and export turnover of goods reached nearly USD 114 billion, an increase of approximately 19% compared to the same period in 2023. Vietnam's trade surplus of over USD 4.7 billion- the highest level in the same period of 10 years.

Trade surplus to the US and EU increased by nearly 37% and 14% respectively compared to the same time last year. In the Japanese market alone, from a trade deficit of USD 0.2 billion to a trade surplus of USD 0.4 billion.

The surplus trade balance has contributed to macroeconomic stability, ensuring major balances of the economy and supporting the international balance of payments.

Thanks to signs of improving markets in major importing countries, export turnover in the first two months of the year increased by over 19%, reaching nearly USD 59.4 billion. Of which, the foreign-invested sector contributed 71.5% to the two-month total exports, the remaining was contributed by domestic enterprises..

11 products recorded a turnover of over USD 1 billion, of which 4 key groups alone (electronics, computers, phones - components, machinery and equipment and textiles) earned over USD 5 billion from markets.

In the opposite direction, Vietnam imported more than USD 54.6 billion of goods, machinery and equipment, an increase of 18% over the same period in 2023. Foreign-invested enterprises are still the sector that accounts for a larger proportion of imported goods and raw materials for production than domestic ones, nearly USD 35 billion.

Regarding the market, China continues to be Vietnam's largest import market, nearly USD 21 billion. While Vietnamese goods are exported the most to the US, reaching USD 17.4 billion in two months.


Kylie Nguyen

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