Vietnam posts record trade surplus of US$13.5 billion in eight months
admin 15-09-2020, 19:57

Phones and components record the highest export revenue of US$31.6 billion during the January-August period. (Illustrative image)

NDO – Vietnam reported total import and export revenue of over US$33692 billion in the first eight months of 2020 and a record trade surplus of nearly US$13.5 billion, as announced by the General Department of Vietnam Customs on September 14.


According to the General Department of Vietnam Customs, Vietnam posted total export revenue of US$17536 billion in the first eight months of this year, up 2.3% and a total import revenue of US$161.9 billion, down 2.4% over the same period in 2019.


Thus, the country enjoyed a trade surplus of nearly US$13.5 billion during the eight-month period, nearly 2.5 times higher than that of the same period in 2019 (US$547 billion).


During the January-August period, phones and components recorded the highest export revenue of US$31.6 billion, down 5.4% compared to the same period in 2019.


In particular, furniture products made of non-wood materials witnessed a dramatic increase in export revenue by 54.4%, reaching nearly US$1.5 billion while sports equipment saw a sharp increase of 63.7%, reaching US$1.7 billion during the eight- month period.


Five groups of other goods posted export revenues of over US$1 billion each including computers, electronic products and components; garments and textiles; machinery and equipment; footwear; wood and wood products.


Meanwhile, computers, electronic products and components saw the highest import revenue during the period at US$3375 billion, up 15.6% over the corresponding period last year.

TAG: business