Trade surplus of US$2.8 billion recorded in Jan-Nov period

Wednesday, 2017-11-29 04:23:53
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The nation enjoyed a trade surplus of US$2.8 billion during the first 11 months of this year.
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NDO – Vietnam enjoyed an estimated trade surplus of US$200 million in November, raising the total trade surplus for the first 11 months of 2017 to US$2.8 billion, as announced by the General Statistics Office of Vietnam (GSO) on November 29.

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According to the latest statistic from the agency, during the 11 month period, the domestic economic sector recorded a trade deficit of US$23.4 billion, while the foreign invested sector enjoyed a surplus of US$26.2 billion.

In total, export turnover in the first 11 months of this year was estimated at US$193.8 billion, up 21.1% over the same period last year, of which the domestic economic sector achieved US$53.1 billion, up 16.8%; the foreign invested sector (including crude oil) reached US$140.7 billion, an increase of 22.8%.

Export turnover of key products continued to increase, compared with the same period last year, with cellphones and components reaching US$41.3 billion, up 30.6%; electronics, computers and components reaching US$23.6 billion, up 38.1%; textiles and garments gained US$23.6 billion, up 9.5%; footwear US$13 billion, up 11.6%; and machinery, equipment and accessories reached US$11.5 billion, an increase of 27%.

Regarding the import figures during Jan-Nov, total turnover was estimated at US$191.0 billion, up 21% against the same period last year, of which the domestic sector imported goods worth US$76.5 billion, up 17.9%; while the figure for the FDI sector stood at US$114.5 billion, increasing by 23.2%.

For November alone, exports were on a downward trend compared to the previous month, with total export turnover estimated at US$19.2 billion, down 5.4% against October, of which the domestic sector net in US$5.0 billion, down 2.2%, and the FDI sector (including crude oil) reached US$14.2 billion, down 6.5%.

Imports this month increased in comparison with October, as import turnover reached US$19 billion, up 4.9%, of which the figure for the domestic economic sector was at US$7.6 billion, increasing by 7.1%; and the FDI sector stood at US$11.4 billion, up 3.5%.

In the past 11 months, the US remained the leading export market of Vietnam with US$38.1 billion, up 9.5% over the same period last year; followed by the EU with US$35 billion, up 13.9%; China US$30.3 billion, up 54.2%; ASEAN US$19.8 billion, up 25.8%; Japan US$15.2 billion, up 14.9%; and the Republic of Korea (ROK) US$13.6 billion, up 30.4%.

In the opposite direction, China remains the largest import market for its neighbouring country, with turnover reaching US$52.1 billion, up 15.5% over the same period last year; followed by the ROK with US$42.4 billion, up 46%; ASEAN US$25.4 billion, up 17.5%; Japan US$14.7 billion, up 7.5%; the EU US$11 billion, up 10.5%; and the US$ 8.4 billion, up 7%.