Vietnam posts US$2.8 billion trade surplus in eight months

11:33 | 03/09/2018 Trade

Vietnam ran a trade surplus of US$2.8 billion in the first eight months of 2018, according to preliminary data released by the General Statistics Office (GSO) on August 29.

Exports during the January-August period were estimated at US$155 billion

Exports during the January-August period were estimated at US$155 billion, up 14.5 pct against the same period in 2017, while imports rose 11.6 pct to an estimated US$152.66 billion.

The first eight months of 2018 saw the foreign-invested sector record a trade surplus of USS$19.5 billion, while domestic enterprises suffered a deficit of US$16.7 billion.

The United States remained the largest market for Vietnamese exports, purchasing US$30 billion worth of goods in the January-August period, up 10.2 pct from the previous year.

The EU came second with US$27.7 billion worth of goods, followed by China with US$23.4 billion in imports.

Vietnamese exports to the ASEAN countries rose 16 pct to reach US$16.5 billion, while exports to Japan and the Republic of Korea were estimated at US$12 billion and US$11.8 billion respectively.

On the opposite side, China remained the largest source of Vietnamese imports with over US$41 billion in the first eight months of 2018, a year-on-year rise of 12.8 pct.

Vietnam’s imports from the Republic of Korea and ASEAN ranked second and third, with US$30.8 billion and US$20.5 billion respectively.

Theo NDO