Vietnam enjoys trade surplus in Jan-Jul: MoIT

Vietnam enjoys trade surplus in Jan-Jul: MoIT

At the regular press conference on August 6, Ministry of Industry and Trade (MoIT) said that Vietnam’s both export turnover and import value in July decreased from June.

Particularly, as reported by the ministry, in July, the country’s export turnover was estimated at $9.6 billion, down 2.9 percent month on month and rising 2.1 percent from the same period last year.

Totally, in Jan-Jul, the country’s export turnover fetched more than $62.93 billion, up 19 percent on year, mainly thanks to exports of foreign-invested enterprises (excluding crude oil) with an estimated figure of $34.3 billion, up 41.1 percent on year.

Regarding import, the country’s import spending in July was estimated at $9.5 billion, down 0.3 percent on month and up 13.1 percent on year, lifting the total figure in Jan-July to $62.99 billion, up 7.3 percent on year.

Thus, in July, the country enjoyed a trade surplus at $100 million, leading to a trade deficit of $58 million in Jan-Jul, accounting for 0.1 percent of the export turnover and equalling to only nearly 1 percent of the trade gap in the same period last year.

Also at the regular press conference, deputy minister of industry and trade Nguyen Hai Nam, said that for the first time after many years, the balance of trade was almost balanced between imports and exports.

Thus, this is the first time in four years, the country will return to trade surplus status in Jan-July after a trade deficit of $160 million in Jan-Jun (in Q1/2012, the country enjoyed a trade surplus of about $224 million and in Q2, the country runs a trade deficit of about $384 million).

Thanh Nien