2017 trade surplus US$900 million higher than previous year’s figure

09:49 | 02/01/2018 Trade

The country enjoys a trade surplus of US$2.67 billion for the whole year of 2017, US$900 million higher than the surplus in the previous year (at nearly US$1.78 billion).

Vietnam enjoys a trade surplus of US$2.67 billion in 2017, US$900 million higher than the surplus in 2016

According to the General Department of Vietnam Customs, in December alone, the total value of goods exported and imported was estimated at US$39.1 billion, of which total export value at US$ 19.3 billion (down 3.5% ) and imports at US$19.8 billion (up 2.1%).

For the whole year, the total export and import value was expected to reach nearly US$424.87 billion, up 20.9% over 2016. Of which the total export value was estimated at US$213.77 billion, up 21.1%; and total import value was estimated at US$211.1 billion, up 20.8%.

During the 12 month period, the total export turnover of computers, electronic products and components recorded the highest increase, up 36.5% over the previous year with an estimated value of US$25.88 billion, followed by telephone and component exports (up 31.4% annually with US$45.09 billion).

Machinery, equipment, spare parts’ export turnover in 2017 is estimated at US$12.79 billion, up 26.4% over the previous year. Seafood exports also recorded positive results with revenue of US$8.35 billion, up 18.5% compared to 2016.

Others key export products in 2017 can be named as footwear with a turnover of US$14.64 billion, up 12.6%; wood and wood products US$7.6 billion, up 9.2%; textile and garment US$25.93 billion, up 8.8%; and crude oil estimated at 6.87 million tonnes, valued at US$2.9 billion, up 0.3% in volume and 23% in value over the previous year.

Meanwhile, coffee saw a dramatic decrease with a total export volume in 2017 estimated at 1.4 million tonnes, valued at US$3.21 billion, down 20.1% in volume and 3.7% in value compared to 2016.

Theo NDO