27 C
Ho Chi Minh City
Thursday, October 29, 2020

Vietnam earns US$6.5 billion in trade surplus from Jan-July

Must read

Support policies for travel firms yet to be approved

HCMC – Many tour operators and hotels which have been hit hard by the coronavirus pandemic had hoped the Government's support policies would help...

HCMC expected to see widespread rain triggered by Molave

HCMC – The combined impact of Typhoon Molave and the southwest monsoon wind is forecast to bring rain to vast areas in the southern...

Bac Lieu gets US$3 billion from FDI power project

HCMC – Delta Offshore Energy, Bechtel Corporation, General Electric and McDermott signed a Master Teaming Agreement this morning at the opening ceremony of the Indo...

Typhoon weakens to tropical depression, flash floods forecast to occur

HCMC - After battering some central provinces of Vietnam, Typhoon Molave weakened to a tropical depression this afternoon, October 28, but Quang Nam Province is forecast...
HCMC – Despite the difficulties triggered by the coronavirus pandemic, Vietnam posted US$6.5 billion in trade surplus between January and July, a three-fold increase year-on-year.

A report of the Ministry of Industry and Trade indicated that the country earned some US$1 billion in trade surplus in July, contributing to the surplus trade balance over the past seven months of 2020.

The foreign direct investment sector enjoyed a trade surplus of US$17.6 billion, including crude oil revenue, in the seven-month period, while domestic enterprises suffered a trade deficit of US$11 billion.

Vietnam exported products worth US$23 billion in July, up 2% month-on-month, and earned an estimated US$145.8 billion in export revenue in the January and July period, inching up 0.2% year-on-year.

Local firms’ exports expanded 13.5% to US$50.7 billion, VietnamPlus news site reported.

The country saw as many as 23 kinds of merchandise that came with an export revenue of over US$1 billion each, accounting for 87% of the total export revenue.

The United States was Vietnam’s largest importer, with a revenue of US$38 billion, followed by China, the European Union and the Association of Southeast Asian Nations.

The seven-month period’s high trade surplus was mainly attributed to the fall in Vietnam’s import activities. The country spent US$139.3 billion on imports, down 3% year-on-year.

The imports of fabric, steel and input materials for making textiles, garments and footwear dropped by 15%, 14% and 16%, respectively, year-on-year.

China remained the country’s largest supplier of products, with turnover reaching some US$42 billion, VnExpress news site reported.

More articles

LEAVE A REPLY

Please enter your comment!
Please enter your name here

- Advertisement -

Latest articles

Support policies for travel firms yet to be approved

HCMC – Many tour operators and hotels which have been hit hard by the coronavirus pandemic had hoped the Government's support policies would help...

HCMC expected to see widespread rain triggered by Molave

HCMC – The combined impact of Typhoon Molave and the southwest monsoon wind is forecast to bring rain to vast areas in the southern...

Bac Lieu gets US$3 billion from FDI power project

HCMC – Delta Offshore Energy, Bechtel Corporation, General Electric and McDermott signed a Master Teaming Agreement this morning at the opening ceremony of the Indo...

Typhoon weakens to tropical depression, flash floods forecast to occur

HCMC - After battering some central provinces of Vietnam, Typhoon Molave weakened to a tropical depression this afternoon, October 28, but Quang Nam Province is forecast...

Police bust massive drug trafficking ring, seize 100 kilograms of drugs

HCMC – The police of HCMC, the country's largest city by population, on October 27 announced that they have cracked down on a large-scale...