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Vietnam’s Jan-Feb trade surplus at 10-year high

The Saigon Times

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HCMC – Vietnam has had a trade surplus of US$4.72 billion in the first two months of this year, the highest same-period level in 10 years, according to data from the General Statistics Office (GSO).

GSO said today, February 29, that the nation’s trade with the rest of the world in January-February had amounted to US$114 billion, up by a staggering 19% versus the same period last year.

The two-month period has seen the country’s merchandise export revenue reaching US$59.34 billion, a year-on-year rise of 19.2%.

It is worth noting that February exports have declined by 28.1% over the month earlier to US$24.82 billion.

The February import bill is put at US$23.72 billion, down by a sharp 23.2% against the previous month but up by 1.8% from the year-ago period.

But higher imports in January this year took the January-February total to US$54.62 billion, an 18% year-on-year increase.

The United States has remained Vietnam’s largest export market in the first two months, with a total value of US$17.4 billion. Meanwhile, China has continued to be the biggest exporter to Vietnam, with a total value of US$20.9 billion.

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