17 Dec, 2018

Vietnam hits a new trade surplus record

The Vietnamese customs officially reported that the total export value of Vietnam during the first 11 months of 2018 reached 223.738 billion USD whereas the import figure was 216.312 billion USD. This resulted in a new trade surplus record of 7.411 billion USD, which surpassed the expectations of 6.8 billion USD from the economic experts.

The major contributors to this growth in Vietnamese export include the following items:

– Phones – export value of 46 billion USD – an increase of 11.7% as compared to the same period last year

– Garment – export value of 28 billion USD – an increase of 17,1%

– Computer and accessories – 27 billion USD – an increase of 13.6%

– Footwear – 14.7 billion USD – an increase of 10.9%

Among the nations that Vietnam has a commercial relationship with, USA, China, Japan and Korea are the 4 biggest export destinations for Vietnam with a total export value of 113 billion USD.

With this performance, it is promising that Vietnam will reach 480 billion USD of import and export value by end of 2018.

Source: 1