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Vietnam seen posting $700M in trade surplus

Publication Date : 24-04-2014

 

Vietnam is expected to post a trade surplus of US$700 million in the first four months of this year, according to data from the General Statistics Office (GSO).

The country shipped $45.74 billion worth of goods during the four-month period, making a year-on-year increase of 16.9 per cent, while it spent $45.05 billion to import goods and services, or an increase of 13.7 per cent over the same period last year.

The country's key export items included mobile phones and accessories ($7.6 billion); garments and textiles ($5.94 billion); and electronic products, computers and spare-parts ($2.94 billion).

Its key imported products in the same period were machinery and spare-parts ($6.7 billion); electronic products, computers and spare-parts ($5.8 billion); petroleum ($2.6 billion), and clothes ($2.75 billion).

In April alone, the country's export turnover reached $12.2 billion. The Foreign Direct Investment (FDI) sector continued to top exports last month. The sector's exports were worth $8.02 billion, accounting for 66 per cent of the country's total export receipt in the month.

Meanwhile, Vietnam's import values in April were estimated at $12.6 billion. Of which, imports of the FDI sector were worth $7.4 billion, accounting for 59 per cent of the country's total import turnover. The country saw a trade deficit of $400 million in April.

Vietnam's exports to the United States posted a 25.6 per cent year-on-year increase in the first quarter, while imports from the US were up 22.4 per cent, according to figures from the General Department of Customs.

Textile and garment exports continued to be the highest earner, while phones and component turnover increased sixfold over the same period last year.

 

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