Trade surplus tops $8B in 5 months

By VNA   May 29, 2024 | 11:34 pm PT
Trade surplus tops $8B in 5 months
Containers seen at Tan Vu Port in Hai Phong City. Photo by VnExpress/Giang Huy
Vietnam’s trade surplus hit $8.01 billion between January and May, with $156.77 billion in export revenue and $148.76 billion in imports, up 15.2% and 18.2% year-on-year, respectively.

Of the total export earning, $43.69 billion came from the domestic sector and $113.08 billion from the foreign-invested one, rising 20.5% and 13.3% against the same time last year, the General Statistics Office reported Wednesday.

In the period under review, 26 kinds of products recorded export turnover of more than $1 billion each, or 90% of the total, including seven with over $5 billion.

The processing sector contributed some $137.39 billion to the total export revenue, or 87.7%, while the fuel and mining sector made up 1.3%, agro-forestry 8.8%, and fisheries 2.2%.

In the meantime, the domestic sector spent $54.95 billion on imports, and the foreign-invested one $93.81 billion, year-on-year increases of 24.2% and 14.9%.

The import of 27 groups of goods exceeded $1 billion each, with four recording revenue of more than $5 billion. Capital goods were the major imports in the period with an estimated value of $139.89 billion.

The U.S. was the largest export market of Vietnam with revenue of $44 billion, while China was the leading import market of the country with $54.9 billion.

Also in the period, Vietnam enjoyed a trade surplus of $38.1 billion with the U.S., $14.3 billion with the E.U., and $290 million with Japan. Meanwhile, it suffered a trade deficit of $32.3 billion with China, $11.1 billion with the Republic of Korea, and $4.2 billion from ASEAN.

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