Trade surplus widens to $1b

Trade surplus widens to $1b

Viet Nam was estimated to enjoy a trade surplus of more than US$1.08 billion in the first quarter of this year, the General Department of Viet Nam Customs noted yesterday.

The country's exports in the period reached US$33.54 billion, posting a year-on-year increase of 14.8 per cent. Meanwhile, the country spent a total of $32.45 billion to import goods and services, resulting in a rise of 12.8 per cent over the same period last year.

The foreign invested sector continued to play a key role in the country's import-export turnover during the three-month period. The sector shipped $20.74 billion worth of goods, up 18.7 per cent from the previous year, accounting for 61.8 per cent of the country's total export value.

The total imports were recorded at $18.86 billion, up 16.5 per cent in comparison to the corresponding period last year, constituting 58.1 per cent of the country's import values, the data revealed.

During the first quarter, the country chiefly exported cell phones and accessories worth $5.47 billion (up 23.8 per cent), garment and textile worth $4.44 billion (up 19.4 per cent), computers, electronic products, and spare parts worth $2.2 billion (down 6.5 per cent), footwear $2.12 billion (up 24 per cent), transport equipment and spare parts $1.67 billion (up 29.5 per cent), aquatic products $1.62 billion (up 35 per cent), and crude oil worth $1.6 billion (down 13.5 per cent).

In the first quarter, the country imported machinery, equipment, tools and spare parts worth $4.85 billion (up 28 per cent), computers, electronic products, and spare parts worth $4.2 billion (up 2 per cent), cell phones and accessories $2.06 billion (up 21.2 per cent), petroleum $1.94 billion (up 16.6 per cent), clothes $1.93 billion (up 18.4 per cent), and steel and iron worth $1.5 billion (down 3.7 per cent).

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