Vietnam posts $1.5bln of trade surplus in Jan-June: GSO

By    June 29, 2016 | 10:42 am GMT+7

Vietnam is estimated to post a trade surplus of around $1.5 billion in the first half of 2016, according to the General Statistics Office (GSO) on Tuesday.

During the first six months of this year, Vietnam is expected to earn over $82.2 billion from exports, up 5.9 percent from the same period last year, said the statistics office in a report on its website.

Meanwhile, during the period, the country has reportedly spent over $80.7 billion on imports, down 0.5 percent.

Vietnam is one of the major commodity exporters in the world. The Southeast Asian country has exported some $37.4 billion worth of heavy industry and mining commodities in the first half of the year, up 6.3 percent from the same period last year, accounting for 45.5 percent of the country's total export value.

Export revenues from light industry and handicraft is expected to reach $33.5 billion, up 5.1 percent year-on-year, making up 40.7 percent of the country's total export value.

Vietnam has mainly imported machines and manufacturing materials, which account for the largest proportion of 91.3 percent of total import value meanwhile consumption goods make up only 8.7 percent of the total import value.

The domestic sector is likely to see a trade deficit of $9.7 billion while foreign sector is estimated to post a surplus of $11.2 billion.

China still tops among trade partners of Vietnam in the first half of this year with total trade revenues of $32.5 billion, said the statistics office.

Last year Vietnam recorded a trade deficit of $3.2 billion, according to GSO.

Related news:

Vietnam posts trade surplus of $1.76 billion in first four months

 
 
go to top