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Friday, July 19, 2024

Vietnam gains trade surplus of US$225 million from Jan-Nov

The Saigon Times

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HCMC – Vietnam achieved a trade surplus of US$100 million in November, resulting in a trade surplus of US$225 million in the January-November period, according to the General Statistics Office.

The trade surplus was small but it was an encouraging sign amid the Covid-19 pandemic, the local media reported.

In the 11-month period, the country exported products worth US$299.67 billion and spent US$299.45 billion on imports, up 17.5% and 27.5%, respectively, year-on-year.

During the period, there were 34 items whose export revenue surpassed US$1 billion each and seven product groups fetched export revenue of more than US$10 billion each, helping the country gain a trade surplus for the second consecutive month after running a trade deficit earlier.

Phones and phone parts; computers, electronic products and accessories; machinery, equipment, tools and machine parts; textiles and garments; and seafood remained among the 10 biggest export earners.

As for the importing markets, the United States was Vietnam’s biggest importer in January-November, spending US$84.8 billion on Vietnamese goods, up 22.2% year-on-year, followed by China with US$50.5 billion and the European Union with US$35.7 billion.

China remained Vietnam’s largest supplier, selling goods worth US$98.5 billion to Vietnam, up 32% year-on-year, followed by South Korea with US$50.3 billion and ASEAN with US$37 billion.

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