Vietnam enjoys trade surplus following double-digit export growth

By Quang Tue   August 4, 2022 | 02:31 am PT
Vietnam enjoys trade surplus following double-digit export growth
Container truck seen at HCMC's Cat Lai Port. Photo by VnExpress/Thanh Nguyen
There was a trade surplus of US$764 million in the first seven months of the year as exports soared 16.1 percent year-on-year to $216.35 billion.

Imports rose by 13.6 percent to $215.59 billion, according to data from the General Statistic Office.

In the same period last year Vietnam had run up a trade deficit of $3.31 billion.

Mobile phones and components remained the top export item, with their value going up 13.1 percent to $33.7 billion.

Electronics, laptops and components were second at $31.7 billion, followed by equipment and spare parts at $24.9 billion.

Garment and footwear exports jumped by nearly 20 percent each to $22.1 billion and $14.1 billion.

The U.S. continued to be Vietnam’s biggest export market with its purchases going up by 24.3 percent to $67.1 billion.

China followed with imports of $30.4 billion. It was Vietnam’s top trading partner with two-way turnover of $103.1 billion.

Exports to other other markets rose by 13-27 percent.

The trade surplus is low and not very likely to be sustained, the GSO warned.

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