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Each day TFO Canada publishes a sample of trade news on the Canadian import market along with any new, updated or changed regulations and legislations regarding international trade; countries in which TFO Canada offers services and on the export sectors which it promotes.

 

Vietnam records $2.76 billion trade surplus in 11 months

Tuesday, December 12, 2017 > 10:36:23
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Vietnam Net

Vietnam recorded a trade surplus of 2.76 billion USD in the first 11 months of the year, or 1.4 percent of total export turnover, according to the Ministry of Industry and Trade (MoIT).

Vietnam recorded a trade surplus of 2.76 billion USD in the first 11 months of the year.

This marks a slight decrease against a 2.9 billion USD surplus seen in 2016.

The total export value during the reviewed period was 193.75 billion USD and that of imports was 190.99 billion USD, up 21.1 percent and 21 percent year-on-year, respectively.

The ministry said that agriculture and seafood exports during this period rose 16.9 percent year on year to reach 23.5 billion USD, accounting for12.1 percent of total export turnover.

Export of crude, coal, petrol and minerals is estimated at 3.94 billion USD, up 26.4 percent year-on-year, accounting for 2.0 percent of total export turnover.

The export of processed goods reached 157.3 billion USD, up 22.4 percent over the same period last year, accounting for 81.2 percent of total export turnover.

Asia has emerged the main importer of Vietnamese goods, with a year-on-year increase of 30.8 percent, accounting for 52.1 percent of total exports.

It estimates that import turnover in the first 11 months of 2017 increased by a significant 21 percent year-on-year.

Asia was also the biggest supplier of goods, with Vietnamese imports from this market rising strongly by 22.2 percent year-on-year, accounting for 81 percent of total import turnover.

The ministry says that Vietnam’s total export turnover in 2017 is expected to reach the highest level since 2011, far exceeding the 202 billion USD target set for the year. The annual export figure is estimated at 210 billion USD, an increase of 20 percent compared over 2016.


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