Vietnam’s 9-month trade surplus widens to nearly $17bln despite trade restrictions

The figures were much higher than achievement in 2019. Trade surplus of nine months of 2019 was $7.27 billion.

Domestic sector has shown a bold role in the economy’s trade activities in the reported period. Total trade revenue in the Jan.-Sept. period was estimated at $388.73 billion, up 1.8 percent from a year earlier.

Exports reached $202.86 billion, up 4.2 percent while imports hit $185.87 billion, down 0.8 percent from a year ago.

During the past nine months, the domestic sector continued to be the driving force for the economy’s export growth. Local companies’ exports reached $71.83 billion, an increase of 20.2 percent on-year, accounting for 35.4 percent of the total export revenue.

The foreign investment sector recorded an export revenue at $131.03 billion, down 2.9 percent, accounting for 64.6 percent of total exports.

Thirty items had export turnover from $1 billion, accounting for 91.3 percent  of the total export turnover. Of them, five items having turnover of $10 billion, GSO reported.

In the third quarter, export turnover reached $80.07 billion, up 11% over the same period last year and up 34% against the second quarter of 2020. Imports reached $68.54 billion, up 3 percent on-year.

In September, the Southeast Asian economy recorded a surplus of $3.5 billion, with $27.5 billion in exports and $24 billion in imports.

► Vietnam’s Q3 inflation accelerates 3.18% from a year earlier

► Vietnam’s trade surplus hits $14.5 billion mid-Sept.