Vietnam’s trade surplus widens to $18.72bln in ten months

Khanh Minh Thursday | 10/29/2020 10:21

Vietnam reports a trade surplus of $18.72 billion in Jan.-Oct. Photo: Nhan Dan

Trade surplus in the first ten months of the year has widened to $18.72 billion, with October surplus estimated at $2.2 billion, according to latest data from the General Statistics Office.

The surplus became bigger than nine-month achievement which was reported earlier at $16.52 billion.

In the Jan.-Oct. period, China and US remained the biggest trade partners of Vietnam. The country suffered $28.2 billion trade deficit with China since the beginning of the year.

The Southeast Asian economy exported $37.6 billion worth products to China, up 14 percent while spending $65.8 billion to buy Chinese goods, up 6.2 percent over the same period last year.

For the US market, Vietnam enjoyed $50.7 billion trade surplus in the ten-month period. The States is Vietnam's largest export market with a revenue of $62.3 billion, up 24 percent, while imports from US dropped 2.4 percent to $11.6 billion.

Generally, in 10 months, Vietnam’s exports was estimated at $229.27 billion, up 4.7 percent, while imports was estimated at $210.55 billion, up 0.4 percent over the same period last year.

In the period, 31 items had export turnover of over $1 billion, accounting for 91.8 percent of the total export turnover and 34 items with an import turnover of over $1 billion, accounting for 89.4% of the total import turnover.

► Vietnam says Oct. CPI up 2.47 pct on year