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Economy

Vietnam’s 10-month trade surplus widens to $19.5bln from $9bln in 2019

Van Dat Tuesday | 11/17/2020 10:14

Photo: tapchicongthuong.vn

Vietnam reported a trade surplus of $19.5 billion in 10-month period, up from $9 billion surplus of the same period in 2019, according to data released by General Department of Customs.

In the reported period, total trade revenue reached $440.09 billion, up 2.7 percent over the same period of last year. Of the amount, exports reached $229.79 billion, up 5 percent, and imports at $210.3 billion, up 0.3 percent from a year ago.

In October, the economy’s trade surplus also expanded to $2.94 billion from $1.86 billion surplus a year ago.  

In the month, total trade revenue was recorded at $51.58 billion, up 0.4 percent from the previous month. The exports grew 0.4 percent to $27.26 billion and imports increased 0.5 percent to $24.32 billion.

Remarkably, a major part of the surplus was contributed FDI sector. In October, foreign direct investment firms recorded $4.17 billion in trade surplus, bringing the sector’s ten-month trade surplus to $28.92 billion, the General Department of Customs’ data shows.

Total import and export value of the foreign firms in the month reached $35.78 billion, up 1.1 percent from the previous month, bringing the total trade value of the FDI sector in the first 10 months to $295.86 billion, up $20.49 billion from the same period of 2019.

FDI enterprises exported $19.97 billion in October and $162.39 billion in ten months, while imported $15.81 billion in the month, bringing the import value of this sector in the first 10 months of 2020 to $133.47 billion.

Exports of phones and accessories in October reached $5.4 billion and $42.18 billion in 10 months, while exports of computers, electronic products and components in the month reached $4.25 billion, bringing the value exports of this commodity group in the first 10 months of 2020 to $36.44 billion, up 25.2 percent over the same period in 2019.

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