Trade surplus in Q1 reaches more than $2 billion
Trade surplus in Q1 reaches more than $2 billion
The country's export turnover increased 22 per cent to reach US$77.34 billion in the first quarter, while the trade surplus was estimated at $2.03 billion.
The General Statistics Office (GSO)’s representative said on March 29 that: “Viet Nam has recorded a strong recovery of import and export activities."
He said the total merchandise import-export turnover in Q1 reached $152.65 billion, up 24.1 per cent over the same period last year. While the export turnover reached $77.34 billion the import turnover also reached $75.31 billion, up 26.3 per cent.
GSO said goods export turnover in February reached $20.196 billion, $196 million higher than planned, adding that export turnover was estimated to reach $28.6 billion in March, marking an increase of 41.6 per cent over February and 19.2 per cent over the same period last year.
In the Q1, there were 11 items with an export turnover of more than $1 billion, accounting for 76.6 per cent of the total export turnover. They included four items with an export turnover of over $5 billion, accounting for 54.7 per cent.
Import turnover reached $20.656 billion in February, $144 million lower than planned, said the GSO, estimating the import turnover to reach $28.2 billion in March, up 36.5 per cent over February and 27.7 per cent over the same period last year. In imports, materials for production were estimated at $70.58 billion, up 26.8 per cent over the same period last year and accounting for 93.7 per cent of the total import turnover.
GSO said the production expectation in Q2 was more positive with an increase of 27.5 per cent in registered capital at VND447.8 trillion ($19.46 billion) in Q1. A survey on business trends of enterprises in the manufacturing and processing industries showed enterprises expect their production and business in Q2 to be better than Q1.
At the same time, demand for consumption increased again in March with better domestic trade and freight transportation. The total retail sales of consumer goods and services in March increased 9.2 per cent over February and decreased 5.4 per cent from the same period last year. Though the cargo transportation increased by 5.3 per cent from the previous month, the transportation of passengers still faced difficulties due to the effects of the pandemic.
Total retail sales of consumer goods and services reached VND1.291 quadrillion, up 5.1 per cent over the same period last year. Of which, the sales in March were estimated at VND405.1 trillion, down 3.8 per cent from the previous month and up 9.2 per cent over the same period last year.
In the first quarter, international visitors were estimated at 48,100 arrivals, down 98.7 per cent from the same period last year. In March, there are 19,400 arrivals, up 77.3 per cent over February and down 95.7 per cent from last March, said the GSO.
The office also considered positive signals in mobilising and using capital, saying realised investment capital was estimated at VND507.6 trillion in Q1, an increase of 6.3 per cent over the same period last year. The office said the increase was an important driving force for the mobilisation and use of social investment capital to grow strongly in the coming quarters of the year.
