Vietnam reports four-year high trade surplus of $9.9 bln in 2019

The country has gained its position to become the 22^nd largest exporter in the world, with a total import and export turnover of more than $516 billion, up 15 percent from a year earlier.

This is highest achievement since 2011. As many as 32 product categories reached export turnover at over $1 billion, 8 product categories at over $5 billion and 6 products with $10 billion.

The export turnover reached $263.45 billion, up 8.1% from last year while import was estimated at $253.51 billion, up 7% compared to 2018.

Smartphones, garments and electronics goods were among the largest export earners in 2019 while key imports were electronics, machinery and fabrics.

In December, the country’s exports increased 10.1% from a year earlier to $21.8 billion and imports rose 11% to $22.8 billion, leaving a trade deficit of $1 billion.

In 2020, Vietnam targets $300 billion export revenue and a trade surplus of $15-17 billion, according to Prime Minister Nguyen Xuan Phuc during Friday conference to summarize tasks in 2019 and 2020 targets of the industry and trade sector.