Việt Nam records nearly $20 billion trade surplus in first ten months

Việt Nam records nearly $20 billion trade surplus in first ten months

Việt Nam’s total foreign trade value reached US$762.4 billion in the first ten months of this year.

Việt Nam records $19.6 billion trade surplus in first ten months. — VNA/VNS Photo

Việt Nam’s total foreign trade value reached US$762.44 billion in the first ten months of this year, the National Statistics Office (NSO) under the Ministry of Finance reported on Thursday.

The country posted a trade surplus of nearly $19.6 billion, compared with $23.2 billion in the same period last year. The domestic sector reported a trade deficit of $22.8 billion, while the foreign-invested sector (including crude oil) maintained a surplus of $42.4 billion.

In October alone, exports were estimated at $42.1 billion, down 1.5 per cent from September but up 17.5 per cent year-on-year. Cumulatively, exports during the January–October period hit $391 billion, a 16.2 per cent increase year-on-year. Of this, the domestic sector contributed $94.2 billion (24.1 per cent of the total), while the foreign-invested one (including crude oil) reached $296.8 billion (75.9 per cent), up 22.5 per cent.

NSO data showed that 36 commodities recorded an export turnover exceeding $1 billion, accounting for over 94 per cent of total overseas shipments. Seven of these surpassed $10 billion each, making up nearly 68 per cent.

By category, processed and manufactured goods dominated with $346.7 billion (88.7 per cent), followed by agricultural and forestry products with $32.6 billion (8.3 per cent), aquatic products with $9.3 billion (2.4 per cent), and fuels and minerals with $2.3 billion (0.6 per cent).

On the import side, turnover in October was estimated at $39.5 billion, down 1 per cent from the previous month but up 16.8 per cent compared to a year earlier. Total imports for the first ten months amounted to $371.4 billion, an 18.6 per cent year-on-year rise.

The domestic sector made up $117 billion, up 2.8 per cent, while the foreign-invested sector reached $254.4 billion, up 27.6 per cent.

China remained the largest supplier of goods for Việt Nam with a total value of nearly $151 billion. Forty-seven imported items were worth over $1 billion each, representing 94 per cent of total import turnover, including four items exceeding $10 billion each (52.7 per cent).

Regarding import structure, capital goods were valued at $348.2 billion, accounting for 93.8 per cent of the total, with machinery, equipment, tools and spare parts making up 52.6 per cent, and raw materials and fuels 41.2 per cent. Consumer goods were worth $23.2 billion, equivalent to 6.2 per cent of total imports, the NSO noted. 

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