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Vietnam records $2.76b trade surplus: Ministry

Vietnam recorded a trade surplus of US$2.76 billion in the first 11 months of the year, or 1.4 per cent of total export turnover, according to the Ministry of Industry and Trade (MoIT).

Seafood being processed for export at Ngô Quyền Processing Export Co in Kien Giang Province. — VNA/VNS Photo

Seafood being processed for export at Ngô Quyền Processing Export Co in Kien Giang Province. — VNA/VNS Photo

This marks a slight decrease against the $2.9 billion surplus seen in 2016.

The total export value during the reviewed period was $193.75 billion and that of imports was $190.99 billion, up 21.1 per cent and 21 per cent year-on-year, respectively.

The ministry says that agriculture and seafood exports during this period rose 16.9 per cent year on year to reach $23.5 billion, accounting for12.1 per cent of total export turnover.

Export of crude, coal, petrol and minerals is estimated at $3.94 billion, up 26.4 per cent year-on-year, accounting for 2.0 percent of total export turnover.

The export of processed goods reached $157.3 billion, up 22.4 per cent over the same period last year, accounting for 81.2 per cent of total export turnover.

Asia has emerged the main importer of Vietnamese goods, with a year-on-year increase of 30.8 per cent, accounting for 52.1 per cent of total exports.

It estimates that import turnover in the first 11 months of 2017 increased by a significant 21 per cent year-on-year.

Asia was also the biggest supplier of goods, with Vietnamese imports from this market rising strongly by 22.2 per cent year-on-year, accounting for 81 percent of total import turnover.

The ministry says that Vietnam’s total export turnover in 2017 is expected to reach the highest level since 2011, far exceeding the $202 billion target set for the year. The annual export figure is estimated at $210 billion, an increase of 20 per cent compared over 2016.


VNA

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