Vietnam recorded a high trade surplus in the first half of this year. (Photo vneconomy.vn)
 
Hanoi (VNS/VNA) - Vietnam gained a trade surplus of 3.1 billion USD in the first seven months of this year, reported the General Statistics Office (GSO).

This is because the country’s total export value during the first seven months rose 15.3 percent year-on-year to 133.7 billion USD.

Of which, the domestic economic sector’s export value increased 18.7 percent to 39.3 billion USD over the same period of last year while that of foreign invested enterprises had a growth of 14 percent to 94.7 billion USD, accounting for 70.8 percent of the total export value.

Meanwhile, the nation saw slower growth in imports with the total import value in the first seven months of this year rising 10.2 percent to 130.6 billion USD against the same period of last year.

The import value rose 12.7 percent to 54.2 billion USD for the domestic economic sector and 8.5 percent to 76.5 billion USD for the foreign-invested enterprises.

However, GSO experts said from May to July, the nation had trade deficit in each month. The trade deficit was 500 million USD in May, 100 million USD in June and 300 million USD in July.

Vietnam had large trade deficit with China and the Republic of Korea. In the first seven months of this year, the trade deficit was at 16.3 billion USD with China, up 1.6 percent year-on-year, and at 16.3 billion USD with the Republic of Korea, which was down 13 percent.

The GSO reported major export products continued to achieve strong increases, in particular telephone and parts with a growth of 15.8 percent to 26.1 billion USD; textile and garment, up 16.2 percent to 16.5 billion USD; and electronic products, computer and parts, up 14.8 percent to 15.7 billion USD.

They also included footwear, up 8.9 percent to 9.1 billion USD; machine, equipment and parts, up 27.1 percent to 9 billion USD; wood and wooden products, up 13.4 percent to 4.8 billion USD; and transport means and parts, up 15.2 percent to 6.4 billion USD.

The nation saw growth in export value for some agro and seafood products (up 8.1 percent to 4.7 billion USD), vegetables and fruits (up 14.6 percent to 2.3 billion USD), and rice (up 31.5 percent to 2 billion USD).

However, reduction in the global export prices drove export value down for some farming products of Vietnam, such as coffee (down 4.5 percent to 2.2 billion USD), and rubber (down 9.7 percent to 1 billion USD).

Crude oil export dropped in both volume and value by 46.4 percent and 25.3 percent to 1.3 billion USD, respectively.

Dong Nai’s trade surplus

The southern province of Dong Nai’s trade surplus in the first seven months of the year was 1.6 billion USD, which made up half of the country’s total.

Dong Nai is among the country’s top five exporting cities and provinces, with a consistently high export surplus, according to the provincial Department of Industry and Trade.

The province has around 50 products with high export turnover, including textiles and garments, footwear, wooden products, and steel, exported to around 170 countries and territories. The products are highly regarded by foreign businesses.

According to the Statistics Office of Dong Nai, it exported around 9.2 billion USD worth of goods in the first seven months, 14 percent higher year-on-year and its highest in four years.

Eighty percent of Dong Nai’s export turnover is from foreign-direct invested companies in the province.-VNS/VNA