Friday , June 21 2024

Trade surplus reaches $12.25B in H1

Vietnam recorded a trade surplus of about $12.25 billion in the first half of this year, according to the General Statistics Office of Vietnam (GSO) Thursday.

In the period, the total import-export turnover of goods hit $316.65 billion, an annual decrease of 15.2%. Specifically, exports and imports fell by 12.1% and 18.2%, respectively.

The six-month export value stood at some $164.45 billion, of which $43.41 billion came from the domestic economic sector, accounting for 26.4% of the total foreign trade. The foreign-invested sector accounted for 73.6% with $121.04 billion.

There were 27 commodity items whose shipments overseas brought home over $1 billion and five earned over $10 billion each. Processing and manufacturing products contribute the lion’s share of the total export turnover, at $144.82 billion or 88.1%.

The U.S. was the largest export market of Vietnam spending approximately $44.2 billion on Vietnamese goods, while China was the largest import market, selling $50.1 billion worth of commodities to Vietnam.

In June alone, the import-export value was estimated at $56.01 billion, an increase of 3.6% month-on-month and a reduction of 14.1% year-on-year.

The GSO said the improved export figure for June indicates that trade promotion measures have yielded certain effectiveness.

In the coming time, in a bid to further enhance the efficiency of import and export activities, the Ministry of Industry and Trade has identified several tasks, which include intensifying trade promotion programs that target new and potential markets such as India, Africa, the Middle East, Latin America, Eastern Europe, and those less affected by inflation and posting promising growth like ASEAN.

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