Vietnam’s trade surplus in first seven months higher than expected

Wednesday, 2016-08-17 10:31:36
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NDO - Vietnam recorded a trade surplus of US$2.26 billion in the first seven months of the year, almost US$500 million higher than the initial estimate, according to the General Department of Customs (GDC).

The General Statistics Office said last month that it expected trade surplus to hit US$1.8 billion in the first seven months up to July.

Official figures from the GDC showed exports during the said period rose by 5.4% to US$96.99 billion while imports fell 1.2% to US$94.735.

Foreign-invested enterprises remained the key driver of trade activities, accounting for nearly 70% of exports and 58.62% of imports.

Phones and accessories made up the largest share of exports with value estimated at US$19.603 billion, up 14.3% over the same period last year, while machinery and equipment were the main imports, despite a 6.3% drop.