Friday , February 23 2024

FDI sector posts over $14B in four-month trade surplus

Despite an overall export decline due to the shortage of orders, foreign direct invested (FDI) businesses still posted more than $14 billion in trade surplus in the first four months.

However, the FDI sector still recorded a trade surplus of $14.18 billion as a result of $79.1 billion in exports, down 12.4%, and $64.92 billion in imports, down 18.3%.

Trade turnover totalled $206.76 billion during January – April, down 15.3% year on year, with those of FDI and domestic businesses at $144.02 billion and $62.74 billion, respectively dropping 15.1% and 15.8%, according to the General Department of Vietnam Customs.

Economist Le Quoc Phuong said FDI businesses is in integral part of the economy, but it also is necessary to gradually improve the competitiveness of domestic firms and their engagement in supply chains for the FDI sector right in the domestic market.

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