2017 trade surplus US$900 million higher than last year’s figure

Sunday, 2017-12-31 06:46:56
 Font Size:     |        Print

Vietnam is expected to enjoy a trade surplus of US$2.67 billion in 2017, US$900 million higher than the surplus in 2016.
 Font Size:     |  

NDO – The country is expected to enjoy a trade surplus of US$2.67 billion for the whole year of 2017, US$900 million higher than the surplus in the previous year (at nearly US$1.78 billion).

According to the General Department of Vietnam Customs, in December alone, the total value of goods exported and imported was estimated at US$39.1 billion, of which total export value at US$ 19.3 billion (down 3.5% ) and imports at US$19.8 billion (up 2.1%).

For the whole year, the total export and import value was expected to reach nearly US$424.87 billion, up 20.9% over 2016. Of which the total export value was estimated at US$213.77 billion, up 21.1%; and total import value was estimated at US$211.1 billion, up 20.8%.

During the 12 month period, the total export turnover of computers, electronic products and components recorded the highest increase, up 36.5% over the previous year with an estimated value of US$25.88 billion, followed by telephone and component exports (up 31.4% annually with US$45.09 billion).

Machinery, equipment, spare parts’ export turnover in 2017 is estimated at US$12.79 billion, up 26.4% over the previous year. Seafood exports also recorded positive results with revenue of US$8.35 billion, up 18.5% compared to 2016.

Others key export products in 2017 can be named as footwear with a turnover of US$14.64 billion, up 12.6%; wood and wood products US$7.6 billion, up 9.2%; textile and garment US$25.93 billion, up 8.8%; and crude oil estimated at 6.87 million tonnes, valued at US$2.9 billion, up 0.3% in volume and 23% in value over the previous year.

Meanwhile, coffee saw a dramatic decrease with a total export volume in 2017 estimated at 1.4 million tonnes, valued at US$3.21 billion, down 20.1% in volume and 3.7% in value compared to 2016.