Vietnam’s trade balance at $34 mln in Jan-Sep
Vietnam’s trade balance at $34 mln in Jan-Sep
Vietnam enjoyed a trade surplus of $34 million in the first nine months of this year, a huge improvement in the trade balance after an $8.1 billion trade gap was experienced in the same period last year.
In September, the country’s exports were estimated at $ 9.7 billion, down nearly 6 percent from August, according to a recent report of the General Statistics Office of Vietnam (GSO).
In particular, the export revenues of the foreign-invested sector, including crude oil, reached $6.35 billion, accounting for 65.4 percent of total exports in September.
The total import revenues of Vietnam in September hit $9.8 billion, down 4.45 percent in August. In particular, the import revenues of the foreign-invested sector were $5.3 billion, up slightly by 0.4 percent over August.
Total export revenues in the first nine months of 2012 were at $83.79 billion, up 18.9 percent from the same period in 2011.
Specifically, the export revenues of the foreign-invested sector, including crude oil, reached $52.5 billion, accounting for 62.6 percent of total turnover.
Import revenues in January-September were estimated at $83.76 billion, up 6.6 percent over the same period last year, of which, the import revenues of the foreign-invested sector reached $43.87 billion, accounting for 52.4 percent.
Thus, in September, the national trade deficit was at $100 million, down from a trade surplus of $34 million last month.
Notably, the foreign-invested sector helped bring in a trade surplus of $8.6 billion in the first nine months of this year.
The main export items in the period was textiles ($11.25 billion, up 8.4 percent year on year); crude oil ($6.34 billion, up 14.5 percent y-o-y); mobile phones and spare parts ($8.56 billion, up 120.6 percent y-o-y); and seafood ($4.46 billion, up 2.2 percent y-o-y).
Major imports in the nine months included electronics, computers and components ($9.28 billion, up 80.9 percent y-o-y), gasoline ($7.08 billion, down 8.5 percent y-o-y), fabric ($5.07 billion, up 1.2 percent y-o-y), and iron and steel ($4.5 billion, down 4.3 percent in revenues but up 14.9 percent in volume y-o-y).
In the first eight months of the year, the country enjoyed a trade surplus of $134 million, $2.08 billion of which was earned by foreign-invested enterprises, according to the latest statistics of the Vietnam General Department of Customs.
By the end of August, the total export-import turnover of the country reached $148.04 billion, up 13 percent compared with the same period last year.
Data breakdowns showed that export and export turnovers reached $ 74.09 billion and $73.96 billion, up 19 percent and 7.5 percent y-o-y, respectively.
Regarding exports, in August, the US continued to be Vietnam’s largest trade surplus country, with $1.34 billion, followed by Hong Kong with $295 million and the UK with $258 million.
Vietnam’s staple export items to the US market were apparel products ($730 million), footwear ($213 million), wood and wooden products ($165 million) and seafood products ($118 million).
Regarding trade deficit with its foreign trade partners, Vietnam runs the biggest trade deficit with China ($1.43 billion), followed by South Korea ($877 million), Taiwan ($539 million), Singapore ($380 million) and France ($146 million).
Earlier last month, according to estimates by the GSO, the country suffered a trade deficit of about $62 million in January-August, of which the August trade deficit was at about $150 million.
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