Suggestions for you

Vietnam has a trade surplus of over USD 10 billion

21/08/2020

Within one month from July 15 to August 15, Vietnam's trade surplus increased by 67% from USD 6.02 billion to USD 10.08 billion.

According to statistics of the General Department of Vietnam Customs, Vietnam’s total import and export value in the first half of August (from August 1 to August 15) reached USD 23.66 billion, an increase of 10.6% over the second half of July 2020.

Accumulated to COB August 15, Vietnam’s total import-export turnover reached USD 310.41 billion, a decrease of 0.4% over the same period last year.

In the first half of August, Vietnam's trade balance continued to have a surplus of USD 1.69 billion, bringing the cumulative total surplus from the beginning of the year to COB August 15 to USD 10.08 billion.

Thus, only during the period from July 15 to August 15, the value of our country's trade surplus increased from USD 6.02 billion to USD 10.08 billion.

Regarding exports, in the first half of August, Vietnam’s export value reached USD 12.68 billion, an increase of 16.2% over the previous period. Accumulated as of COB August 15, Vietnam’s export value reached USD160.24 billion.

According to preliminary statistics of the General Department of Vietnam Customs, similar to the previous months, in the first half of August, our country continued to gain strong export value in a number of items such as: Phones and accessories with export value of USD 2.58 billion; Computers, electronic products and components reached USD 1.9 billion; Textile and garment products reached USD 1.36 billion; Machinery, equipment, tools and spare parts reached USD 1.11 billion and footwear of all types reached USD 652 million.

In the opposite direction, Vietnam's import turnover in the first half of August reached USD 10.99 billion, an increase of 4.9% from the previous period. Accumulated as of COB August 15, the import value reached USD 150.16 billion.

In the first half of August 2020, Vietnam's most imported products were: Computers, electronic products and components with an import value of USD 2.9 billion; Machinery, equipment, tools and spare parts with an import value of USD 1.58 billion; Phones and accessories with an import value of USD 759 million; Fabrics of all types with an import value of USD 447 million; and iron and steel of all types with an import value of USD 365 million.

 

Kylie Nguyen

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