Sun, 03 Dec 2023

HANOI, 30th September, 2022 (WAM) -- Vietnam estimates a trade surplus of US$6.52 billion in the first nine months of this year, Vietnam News Agency (VNA) reported.

In the same period last year, the country posted a trade deficit of $3.44 billion.

The General Statistics Office announced on 29th September that in the period, the country's import-export value hit $558.5 billion, up 15.1% year-on-year. Of the total, the export turnover topped $282 billion, while imports reached $276 billion, up 17.3% and 13% year-on-year, respectively.

In the reviewed period, 32 commodities reported their export value of more than $1 billion each, with that of six surpassing the $10 billion mark.

Meanwhile, 42 commodities saw their import value of over $1 billion, with four surpassing the $10-billion mark.

During January-September, the US remained Vietnam's biggest importer, with a turnover of $86.3 billion, while China was the country's largest exporter, selling $91.6 billion worth of products.

In the period, Vietnam saw a trade surplus of $24.3 billion with the European Union, and a trade deficit of $51.5 billion with China, up 48.2% and 21.3% y-o-y, respectively.

In September alone, the country's total import-export value is estimated at $58.7 billion, down 11% m-o-m, but up 8.4% y-o-y.

Deputy Minister of Industry and Trade Do Thang Hai said that in the remaining months of this year, his ministry will focus on supporting businesses in finding alternative sources of raw materials with reasonable prices to ensure a sufficient supply of fuel and materials to prepare for the year-end shopping season; and help them make good use of signed free trade agreements (FTAs) to speed up production and export.

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