08:09 (GMT +7) - Wednesday 17/07/2019

Vietnam Today

4M trade surplus at $711mn

Released at: 21:07, 04/05/2019

4M trade surplus at $711mn

Photo: Duc Thanh

Figure much lower than the $3.7 billion posted in same period of 2018.

by Phi Linh

Total export and import turnover in the first four months of 2019 was estimated at $156.8 billion in the latest report from the General Statistics Office.

Exports stood at $78.76 billion, up 5.8 per cent year-on-year, while imports totaled $78.05 billion, up 10.4 per cent. Despite maintaining a surplus of an estimated $711 million in the first four months, the figure is much lower than the $3.7 billion recorded in the same period of 2018.

The domestic sector exported $23.33 billion worth of goods, an increase of 10.5 per cent and accounting for 29.6 per cent of the total, while the FDI sector (including crude oil) earned $55.43 billion, up 4 per cent and accounting for 70.4 per cent of the total, down 1.2 percentage points year-on-year.

The US was Vietnam’s largest export market, with $17.8 billion, up 28.4 per cent year-on-year, followed by the EU with $13.7 billion, up 2.8 per cent, China $10.4 billion, down 5.8 per cent, ASEAN $8.4 billion, up 7.3 per cent, South Korea $6.2 billion, up 7.3 per cent, and Japan $6.1 billion, up 6.6 per cent.

The domestic economic sector imported $32.80 billion worth of goods in the period, an increase of 14.4 per cent, while the FDI sector imported $45.25 billion, up 7.6 per cent.

China remained the largest source market, with $22.3 billion, up 18.8 per cent year-on-year, followed by South Korea with $15.5 billion, up 3.1 per cent, ASEAN $10.8 billion, up 9.2 per cent, Japan $5.7 billion, down 1.4 per cent, the EU $4.6 billion, up 14.8 per cent, and the US $4.2 billion, up 14.3 per cent.

The domestic economic sector recorded a trade deficit of $9.46 billion and the FDI sector (including crude oil) a trade surplus of $10.17 billion.

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