Vietnam records US$2 billion trade surplus with G20 in first seven months

Monday, 2016-09-12 16:44:37
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NDO - Vietnam’s exports to the world’s twenty major economies (G20) in the first seven months of 2016 outstripped its imports by US$2.02 billion, according to the General Department of Customs.

Official data shows exports to G20 economies reached US$75.22 billion, accounting for 77.8% of Vietnam’s total exports, up 9.4% over the same period last year, thanks to growth in the export value of mobile phones, computers and seafood.

Mobile phones brought in US$2.32 billion, while computers and seafood earned US$1.04 billion and US$715 million, respectively.

Mobile phones and textile products remained the largest exports, making up more than one third of total shipments to these economies.

On the import side, Vietnam purchased US$73.20 billion worth of goods from G20 economies, down 1.7% year on year, thanks to smaller imports of machinery and equipment, mobile phones, petrol and steel products.

Among the G20 economies, China remained Vietnam’s largest trading partner, followed by the United States and the European Union.

Last year, Vietnam ran a deficit of nearly US$5.7 billion with the G20 economies in the first seven months.