Vietnam’s trade surplus tops 8 billion USD in five months: GSO

Vietnam’s trade surplus hit 8.01 billion USD during January – May, with 156.77 billion USD in export revenue and 148.76 billion USD in imports, up 15.2% and 18.2% year-on-year, respectively, the General Statistics Office announced on May 29, 2024.
Vietnam’s trade surplus tops 8 billion USD in five months
At Dong Nai port, Bien Hoa city (Source: VNA)

Of the total export earning, 43.69 billion USD came from the domestic sector and 113.08 billion USD from the foreign-invested one, rising 20.5% and 13.3% against the same time last year.

In the period under review, 26 kinds of products recorded export turnover of more than 1 billion USD each, or 90% of the total, including seven with over 5 billion USD.

The processing sector contributed some 137.39 billion USD to the total export revenue, or 87.7%, while the fuel and mining sector made up 1.3%, agro-forestry 8.8%, and fisheries 2.2%.

In the meantime, the domestic sector spent 54.95 billion USD on imports, and the foreign-invested one 93.81 billion USD, year-on-year increases of 24.2% and 14.9%.

The import of 27 groups of goods exceeded 1 billion USD each, with four recording revenue of more than 5 billion USD. Capital goods were the major imports in the period with an estimated value of 139.89 billion USD.

The US was the largest export market of Vietnam with revenue of 44 billion USD, while China was the leading import market of the country with 54.9 billion USD.

Also in the period, Vietnam enjoyed a trade surplus of 38.1 billion USD with the US, 14.3 billion USD with the EU, and 290 million USD with Japan. Meanwhile, it suffered a trade deficit of 32.3 billion USD with China, 11.1 billion USD with the Republic of Korea, and 4.2 billion USD from ASEAN.

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(Source: VNA)