Vietnam 1Q trade surplus narrows to $2.02 bln vs $2.8 bln

The economy recorded a strong recovery of trade activities in the first quarter of 2021, with total trade revenue at $152.65 billion, up 24.1% over the same period last year.

Export turnover in the quarter was estimated at $77.34 billion, up 22% from a year ago. The domestic sector’s export revenue was recorded at $18.3 billion, up 4.9%, accounting for 23.7% of total export turnover. Export of FDI sector reached $59.04 billion, up 28.5%, accounting for 76.3% of total export revenue.

Import turnover in the reported quarter was estimated at $75.31 billion, up 26.3% over the same period last year. The domestic sector imported $25.05 billion, up 17% while the foreign invested sector imported $50.26 billion, up 31.5%.

The United States was the largest export market of Vietnam with a turnover of $21.2 billion, up 32.8% over the same period last year. China ranked seconded with $12.5 billion, up 34.3%. EU was the third largest export market with $9.6 billion.

In the reported period, China was the largest import market of Vietnam with a turnover of $23.8 billion, an increase of 47.3% over the same period last year. South Korea was the second import market of Vietnam with $13 billion, up 9.9%.