Vietnam enjoys trade surplus worth US$3.39 billion during Jan-May

Vietnam enjoyed a trade surplus worth US$3.39 billion in the first 5 months of the year, with the domestic economic sector seeing a trade deficit of US$10.39 billion, while the foreign sector saw a surplus of US$13.78 billion (including crude oil).

 
                                 
                               Export turnover in May alone was estimated at US$19.2 billion, up 4.5 pct over the previous month

The latest statistics from the General Statistics Office of Vietnam showed that export turnover during that period was estimated at more than US$93 billion, up 15.8 percent over the same period in 2017, with the domestic economic sector gaining US$26.43 billion, up 17.8 pct; while the FDI sector’s export value (including crude oil) reached US$66.66 billion, up 15 pct and accounting for 71.6 pct of total export turnover.

Regarding imports, during January-May, Vietnam’s import turnover stood at US$89.7 billion, up 8.2 pct over the same period last year, with the domestic sector at US$36.82 billion, an increase of 10.4 pct, and the figure for the FDI sector at US$52.88 billion, up 6.7 pct.

During the period, the United States is still Vietnam's largest export market with turnover reaching US$17.4 billion, up 9 pct, followed by the EU with US$16.9 billion, increasing by 13.6 pct, and China with US$13.8 billion, up 30.8 pct.

In the opposite direction, China is still the largest import market of Vietnam with turnover reaching US$24.2 billion, up 9 pct over the same period in 2017. The second largest exporter to the Vietnamese market during the first five months this year was the Republic of Korea, with import value at US$18.7 billion, up 1.1 pct, followed by the ASEAN with US$12.5 billion, up 11.1 pct, and Japan US$7.2 billion, up 11.2 pct.

 

Theo NDO

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