Trade surplus hits record high
Trade surplus hits record high
Trade surplus hits record high
12/10/2018
12/10/2018
According to the data just announced by the General Department of Customs (more fully updated than the preliminary estimate announced by the General Statistics Office at the end of September 2018), the export turnover in the first 9 months of this year was 179.467 billion USD, an increase of 15.8% over the same period last year.
In terms of imports, the total turnover in September reached 19.513 billion USD, bringing the total import turnover by the end of September 2018 to 173.143 billion USD, up 11.6% over the same period in 2017. Thus, our country's trade surplus in September reached 1.982 billion USD, nearly 1.3 billion USD higher than the previous estimate of experts (estimated at 700 million USD), thereby helping our country's trade surplus reach 6.324 billion USD by the end of September.
This is a record high surplus in recent years. In the past 5 years (2014-2018), there were 3 years up to September when Vietnam had a trade surplus, the remaining 2 years were 2016 with a trade surplus of 3.029 billion USD, and 2014 with a trade surplus of 2.628 billion USD. In the same period in 2015, our country even had a trade deficit of 3.639 billion USD and in 2017, the trade deficit was nearly 120 million USD.
In the first 9 months of this year, there were 5 groups of export goods with a turnover of 10 billion USD or more. The largest was phones and components with 36.691 billion USD, up 16.4% over the same period in 2017.
Other items were textiles with 22.45 billion USD; computers, electronic products and components with 21.851 billion USD; machinery, equipment, tools and spare parts with 12.14 billion USD; and footwear with 11.738 billion USD.
Meanwhile, in the import sector, there were 3 groups of goods with a turnover of 10 billion USD or more, including: Computers, electronic products and components with 30.813 billion USD; machinery, equipment, tools, spare parts reached 24.584 billion USD; phones of all kinds and components reached 10.997 billion USD.
Previously, in the whole year of 2017, Vietnam's trade balance of goods had a trade surplus of 2.7 billion USD, of which the domestic economic sector had a trade deficit of 26.1 billion USD; the foreign-invested sector had a trade surplus of 28.8 billion USD, according to the General Statistics Office.
This is a record high surplus in recent years. In the past 5 years (2014-2018), there were 3 years up to September when Vietnam had a trade surplus, the remaining 2 years were 2016 with a trade surplus of 3.029 billion USD, and 2014 with a trade surplus of 2.628 billion USD. In the same period in 2015, our country even had a trade deficit of 3.639 billion USD and in 2017, the trade deficit was nearly 120 million USD.
In the first 9 months of this year, there were 5 groups of export goods with a turnover of 10 billion USD or more. The largest was phones and components with 36.691 billion USD, up 16.4% over the same period in 2017.
Other items were textiles with 22.45 billion USD; computers, electronic products and components with 21.851 billion USD; machinery, equipment, tools and spare parts with 12.14 billion USD; and footwear with 11.738 billion USD.
Meanwhile, in the import sector, there were 3 groups of goods with a turnover of 10 billion USD or more, including: Computers, electronic products and components with 30.813 billion USD; machinery, equipment, tools, spare parts reached 24.584 billion USD; phones of all kinds and components reached 10.997 billion USD.
Previously, in the whole year of 2017, Vietnam's trade balance of goods had a trade surplus of 2.7 billion USD, of which the domestic economic sector had a trade deficit of 26.1 billion USD; the foreign-invested sector had a trade surplus of 28.8 billion USD, according to the General Statistics Office.
Compiled by VITIC