Vietnam’s export, import revenues reached 33.346 billion USD and 32.339 billion USD respectively in the first quarter of this year, resulting in a trade surplus of more than 1 billion USD, the Vietnam Economic News reported on April 7.
After two months of decline largely due to Tet (Lunar New Year holidays), exports increased again this March reaching 12 billion USD, a 25.8 percent increase from the previous month, and imports increased by 21.9 percent to 12.3 billion USD, leading to a trade surplus of 300 million USD or 1.2 percent of total export and import revenues.
Except rubber and chemicals which were similar to the previous month, all remaining items grew in terms of export revenue including textiles and garments reaching 1.6 billion USD, a 53 percent increase, seafood 600 million USD, a 30 percent increase, rice 255 million USD, a 30 percent increase, coffee 448 million USD, a 28 percent increase, and electronic ware 850 million USD, a 37 percent increase.
The growth in March pushed up many exports in the first quarter such as telephones and telephone accessories reaching 5.4 billion USD, a 22.7 percent increase from a year ago, vehicles and vehicle spare parts 1.6 billion USD, a 24.8 percent increase, footwear 2.2 billion USD, a 25.9 percent increase, and seafood 1.6 billion USD, a 35.3 percent increase.
However, several kinds of materials, fuels, minerals and agricultural and forest products still faced difficulties resulting in reduced export revenues. Specifically, crude oil export revenues hit 1.7 billion USD, an 8.3 percent drop, cassava and cassava products 367 million USD, a 14.8 percent drop, rubber 306 million USD, a 39.2 percent drop, and fossil coal 217 million USD, a 25.4 percent drop.
The US was the largest importer buying 5.9 billion USD worth of Vietnamese goods in the first quarter of this year, a 22.9 percent increase from a year ago. Other major export markets maintained their growth momentum such as the European Union (EU) reaching 5.9 billion USD in the first quarter of this year, a 7.5 percent increase from a year ago, the Association of Southeast Asian Nations (ASEAN) 4.7 billion USD, a 6.4 percent increase, China 3.8 billion USD, a 30.2 percent increase, and Japan 3.6 billion USD, a 17.8 percent increase.
Import revenues were estimated at 12.3 billion USD this March, a 21.9 percent increase from the previous month and a 12.2 percent increase from a year ago. The figure reached about 32.3 billion USD in the first quarter of this year, a 12.4 percent increase from the same period last year.
The import structure also changed in these months. Production materials hit 30.2 billion USD, a 13 percent increase from a year ago, accounting for 93.5 percent of total import revenues compared with 93 percent in the same period last year. Of these, machinery, equipment, tools and spare parts accounted for 38.7 percent compared with 38.2 percent a year ago, fuel and materials 54.8 percent similar to a year ago, and consumer products 6.5 percent compared with 7 percent a year ago.
Vietnam recorded a trade surplus of more than 1 billion USD in the first three months of this year accounting for three percent of total export revenues. The foreign direct investment (FDI) sector recorded a trade surplus of 3.9 billion USD, while the domestic sector recorded a trade deficit of 2.9 billion USD. The growth again in export and import revenues in the first quarter of this year is expected to boost exports and imports in the months to come.-VNA
After two months of decline largely due to Tet (Lunar New Year holidays), exports increased again this March reaching 12 billion USD, a 25.8 percent increase from the previous month, and imports increased by 21.9 percent to 12.3 billion USD, leading to a trade surplus of 300 million USD or 1.2 percent of total export and import revenues.
Except rubber and chemicals which were similar to the previous month, all remaining items grew in terms of export revenue including textiles and garments reaching 1.6 billion USD, a 53 percent increase, seafood 600 million USD, a 30 percent increase, rice 255 million USD, a 30 percent increase, coffee 448 million USD, a 28 percent increase, and electronic ware 850 million USD, a 37 percent increase.
The growth in March pushed up many exports in the first quarter such as telephones and telephone accessories reaching 5.4 billion USD, a 22.7 percent increase from a year ago, vehicles and vehicle spare parts 1.6 billion USD, a 24.8 percent increase, footwear 2.2 billion USD, a 25.9 percent increase, and seafood 1.6 billion USD, a 35.3 percent increase.
However, several kinds of materials, fuels, minerals and agricultural and forest products still faced difficulties resulting in reduced export revenues. Specifically, crude oil export revenues hit 1.7 billion USD, an 8.3 percent drop, cassava and cassava products 367 million USD, a 14.8 percent drop, rubber 306 million USD, a 39.2 percent drop, and fossil coal 217 million USD, a 25.4 percent drop.
The US was the largest importer buying 5.9 billion USD worth of Vietnamese goods in the first quarter of this year, a 22.9 percent increase from a year ago. Other major export markets maintained their growth momentum such as the European Union (EU) reaching 5.9 billion USD in the first quarter of this year, a 7.5 percent increase from a year ago, the Association of Southeast Asian Nations (ASEAN) 4.7 billion USD, a 6.4 percent increase, China 3.8 billion USD, a 30.2 percent increase, and Japan 3.6 billion USD, a 17.8 percent increase.
Import revenues were estimated at 12.3 billion USD this March, a 21.9 percent increase from the previous month and a 12.2 percent increase from a year ago. The figure reached about 32.3 billion USD in the first quarter of this year, a 12.4 percent increase from the same period last year.
The import structure also changed in these months. Production materials hit 30.2 billion USD, a 13 percent increase from a year ago, accounting for 93.5 percent of total import revenues compared with 93 percent in the same period last year. Of these, machinery, equipment, tools and spare parts accounted for 38.7 percent compared with 38.2 percent a year ago, fuel and materials 54.8 percent similar to a year ago, and consumer products 6.5 percent compared with 7 percent a year ago.
Vietnam recorded a trade surplus of more than 1 billion USD in the first three months of this year accounting for three percent of total export revenues. The foreign direct investment (FDI) sector recorded a trade surplus of 3.9 billion USD, while the domestic sector recorded a trade deficit of 2.9 billion USD. The growth again in export and import revenues in the first quarter of this year is expected to boost exports and imports in the months to come.-VNA
