Vietnam posts record trade surplus of US$13.5 billion in eight months

Update: 08:33 | 16/09/2020

Vietnam reported total import and export revenue of over US$336.92 billion in the first eight months of 2020 and a record trade surplus of nearly US$13.5 billion, as announced by the General Department of Vietnam Customs on September 14.

According to the General Department of Vietnam Customs, Vietnam posted total export revenue of US$175.36 billion in the first eight months of this year, up 2.3% and a total import revenue of US$161.9 billion, down 2.4% over the same period in 2019.

Vietnam, record trade surplus, eight months, total import and export revenue, highest export revenue, electronic products

Phones and components record the highest export revenue of US$31.6 billion during the January-August period.

Thus, the country enjoyed a trade surplus of nearly US$13.5 billion during the eight-month period, nearly 2.5 times higher than that of the same period in 2019 (US$5.47 billion).

During the January-August period, phones and components recorded the highest export revenue of US$31.6 billion, down 5.4% compared to the same period in 2019.

In particular, furniture products made of non-wood materials witnessed a dramatic increase in export revenue by 54.4%, reaching nearly US$1.5 billion while sports equipment saw a sharp increase of 63.7%, reaching US$1.7 billion during the eight- month period.

Five groups of other goods posted export revenues of over US$1 billion each including computers, electronic products and components; garments and textiles; machinery and equipment; footwear; wood and wood products.

Meanwhile, computers, electronic products and components saw the highest import revenue during the period at US$33.75 billion, up 15.6% over the corresponding period last year.

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Source: NDO

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