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Sunday, June 16, 2024

Trade revenue up over 16% in Jan-May

The Saigon Times

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HCMC – Vietnam’s trade has amounted to US$305.53 billion so far this year, up by 16.6% versus the same period last year, according to data released by the General Statistics Office of Vietnam.

This month, total trade was estimated at US$66.62 billion, up by 9.1% against the month earlier and up by 22.6% year-on-year.

Exports in May have grown by 5.7% over the previous month and 15.8% year-on-year to US$32.81 billion. In the first five months, exports have totaled US$156.77 billion, up by 15.2% year-on-year.

The domestic sector contributed US$43.69 billion, up by 20.5%, while the foreign-invested sector, including crude oil, accounted for US$113.08 billion, a 13.3% increase.

Imports in May have expanded by 12.8% versus April and 29.9% against the same period last year to US$33.81 billion. Over the course of five months, imports have amounted to US$148.76 billion, up by 18.2% year-on-year. The domestic sector has spent US$54.95 billion on imports, up by 24.2%, while the foreign-invested sector’s import bill was US$93.81 billion, up by 14.9%.

The nation has a trade deficit of US$1 billion this month, but a trade surplus of US$8.01 billion in the January-May period, down by US$2.01 billion compared to the same period last year.

The U.S. was Vietnam’s largest export market, with an estimated export value of US$44 billion. Vietnam imported goods worth US$54.9 billion from China, the biggest exporter to Vietnam.

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