Vietnam reports $9.8 billion trade surplus in first five months

The GSO stated in its most recent report, which was released on May 29, that the domestic sector saw a trade deficit of $8.76 billion while the FDI sector saw a trade surplus of $18.56 billion (including crude oil).

Vietnam's overall commercial turnover was anticipated to be $55.86 billion in May, up 5.3 percent from the previous month and 12.3 percent from the previous year.

Trade turnover in the first five months came to $262.54 billion, a decrease of 14.7% month over month.

The anticipated value of exports was $136.17 billion, a decrease of 11.6% over the same time in 2017.

23 commodities generated over $1 billion in export turnover during the examined period, making up 87.4% of all export turnover.

The expected import turnover for May was $26.81 billion, an increase of 6.4 percent over the previous month.

With $43.95 billion from the domestic sector and $82.42 billion from FDI, the expected import turnover in the first five months was $126.37 billion, a decrease of 17.9 percent from the same time in 2017.

Up to 24 imports worth more than $1 billion apiece account for 81.2 percent of all export revenue.

With $37.2 billion, the U.S. ranked first among countries importing Vietnamese goods from January to May. China came in second with $43.4 billion.

Particularly, Vietnam increased its trade surplus with the U.S. by $31.2 billion, the EU by $12.6 billion, and Japan by $521 million.

The nation of Southeast Asia saw a $23.6 billion trade imbalance with China, a $10.8 billion deficit with South Korea, and a $3.4 billion deficit with ASEAN.

Source: GSO, VGP