Vietnam’s eight-month trade surplus widens to nearly $12bln

Eight-month trade revenue was estimated to increase to $336.3 billion, down 0.3%. Exports increased 1.6% year-on-year to $174.11 billion, while imports dropped 2.2% to $162.21 billion.

Despite pandemic, domestic sector remained a bright spot with its export and import values reaching $60.8 billion and $72.05 billion, up 15.3% and 2.9%, respectively.

In August, the economy’s trade surplus was seen to have widened to $3.5 billion from a $2.8 billion surplus in July.

Exports in the reported month increased 2.5% year-on-year to $26.5 billion, while imports were were seen to grow 2.8% to $23.0 billion.

There were 27 products reeling in over $1 billion each. They included phone and components, with $31.5 billion, electronic devices, computers and components, with $27.6 billion, and apparel, with $19.2 billion.

The US remained Vietnam’s biggest importer purchasing $46.7 billion goods, up 19% from a year earlier. China was the second biggest importer, with $27 billion, the EU, the third, with $22.9 billion.

► Vietnam’s Jan.-Aug. inflation increases 3.96%, a five-year high