News

New record: A trade surplus of more than VND 7.4 billion in the eleven months

Summary

According to the latest data from the General Department of Customs, our country’s trade surplus set a new record of US$ 7.411 billion.

Updated on : 19-12-2018

Specifically, by the end of November 2019, the country’s total export value reached US$ 223.723 billion, while the import value reached US$ 216.312 billion.

The trade deficit in the past 11 months has surpassed the recent estimate by experts (an estimate of US$ 6.8 billion).

With total import-export turnover of over US$ 440 billion in the past 11 months, plus two-digit growth in both exports and imports, the country’s total import and export value of 2018 may reach about US$ 480 billion.

By the end of November, the country had 27 commodity groups with an export turnover of US$1 billion or more.

The number of "billion dollar" commodity groups was not more than those in 2017, but most of the key commodity groups gained double digit growth.

Of 27 "billion dollar" groups, there are five groups reaching a turnover of US$ 10 billion or more, including: Telephones reached US$ 46.203 billion, up 11.7%; textiles and garments reached US$ 27,697 billion, up 17,1%; computers, electronic products and components reached US$ 26.946 billion, up 13.6%; machinery, equipment and spare parts reached US$ 15.12 billion, up 28.6% and footwear reached US$ 14.664 billion, up 10.9%.

In terms of export markets, of more than 200 countries and territories that have trade relations with Vietnam, many of our partners achieved a turnover of US$ 1 billion or more.

Among them, there are four markets with turnover of tens of billions US$ including the United States, China, Japan and South Korea. They are also the four largest trading partners of our country in terms of total two-way trade turnover.

Of which, the United States remains Vietnam's most important export market with a turnover of US$ 43.445 billion, up 14.2% over the same period of 2017.

Followed by China with a turnover of US$ 37.663 billion, up 21.7%. China is also the most impressive export market among the four largest trading partners of Vietnam.

Export turnover to Japan collected US$ 17.3 billion, up 12.8%.

Export turnover to South Korea reached US$ 16.732 billion, up 23.7%.

Source: Customs News