Vietnam's trade surplus surpasses $16.25 billion by mid-August

Ngo Luong Friday | 08/25/2023 10:59

Photo by VGP.

In the first half of August, Vietnam's commerce with the rest of the world was assessed at $28.6 billion, with export value decreasing by 10.8 percent yearly.

Phones and accessories ($2.42 billion), computers, electronic items, and components ($2.38 billion), clothes and textiles ($1.55 billion), and machinery and equipment ($1.53 billion) are the top exports.

Meanwhile, Vietnam spent $14.2 billion on imports in the first half of August, an increase of 5.3 percent over the same time last year.

As of August 15, the Southeast Asian country's commercial turnover exceeded $402 billion, including $209.43 billion in export value, reflecting a 10.1 percent, or $23.5 billion, year-on-year decrease from last year.

In an effort to boost exports amid a global market slump, the Ministry of Industry and Trade (MoIT) said it would continue to support businesses in maximizing the benefits of free trade agreements (FTAs) such as the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), the EU-Viet Nam Free Trade Agreement (EVFTA), and the UK-Viet Nam Free Trade Agreement (UKVFTA).

The MoIT has also collaborated with the Ministry of Agriculture and Rural Development to negotiate with China to open its market to additional Vietnamese fruit and vegetable goods such as green-skinned pomelo, fresh coconut, avocados, pineapple, star apple, lemon, and cantaloupe.

Source: VGP