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Vietnam enjoys trade surplus of 3.04 bln USD in first four months

Vietnam recorded a trade surplus of 3.04 billion USD in the first four months of 2020 despite the negative impacts caused by the COVID-19 pandemic, according to the Ministry of Industry and Trade (MoIT).
Vietnam enjoys trade surplus of 3.04 bln USD in first four months ảnh 1Illustrative image (Photo: VNA)

Hanoi (VNA) – Vietnam recorded a tradesurplus of 3.04 billion USD in the first four months of 2020 despite the negativeimpacts caused by the COVID-19 pandemic, according to the Ministry of Industryand Trade (MoIT).

During the Jan-April period, the country’s export turnover totalled 82.94billion USD, up 4.7 percent year-on-year.

Commodities with strong growth in export valuein the reviewed period included machinery, equipment, tools and spare parts(29.6 percent); computers, electronic products and components (28.6 percent); woodand wooden products (10.1 percent), footwear (1.3 percent), and telephones andcomponents (1.1 percent).

The US remained the largest market for Vietnamese exports in the reviewedperiod, with a 20.3-billion-USD turnover, surging 13.4 percent. It was followed by China and Japan with respectiveturnovers of 13.1 billion USD and 6.7 billion USD, up 26.7 percent and 10.1percent.

Meanwhile, imports reached 79.89 billion USD in the period, up 2.1 percent againstthe same period last year.

The ministry said after reaching positive growth in the first quarter,Vietnam's trade activities in April began to be strongly affected by thepandemic. Export turnover in April reached only 19.7 billion USD, down 18.4percent from the previous month and 3.5 percent year-on-year.

However it predicted that Vietnam’s export value will increase again inthe second half of this year if the epidemic is controlled in the secondquarter.

The ministry will continue to give priority to promoting trade connections betweenVietnamese enterprises and foreign partners, and the introduction of made-in-Vietnamgoods to domestic and international consumers. /.
VNA
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