Vietnam enjoys two-month trade surplus of US$865 million

Sunday, 2016-02-28 14:37:41
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NDO – Vietnam has recorded a trade surplus of US$865 million in the first two months of 2016, with the domestic economic sector registering a trade deficit of nearly US$2.1 billion and the foreign sector (including crude oil) registering a surplus of US$2.9 billion, according to the General Statistics Office of Vietnam (GSO).

Specifically, Vietnam earned US$23.7 billion in export revenues, up 2.9% compared to the same period last year. The domestic sector accounted for US$7.1 billion, up 4.2%, while the foreign direct investment (FDI) sector (including crude oil) represented US$16.6 billion, up 2.3%.

The country’s import revenues were estimated at US$22.8 billion, a year-on-year decrease of 6.6%, with the domestic sector importing US$9.2 billion worth of goods (down 4.8%) and the FDI sector importing US$13.6 billion worth of commodities (down 7.7%).

The United States remained Vietnam’s largest importer with US$5.1 billion (up 15.5% year on year), followed by the European Union with US$4.7 billion (up 6.4%), ASEAN with US$2.5 billion (down 12.3%) and China with US$2.3 billion (up 3.5%).

Vietnam’s imports from key markets witnessed year-on-year declines in the first two months of 2016, with imports from China estimated at US$7 billion, down 5.6%; the Republic of Korea at US$3.9 billion, down 4.8%; ASEAN at US$3.2 billion, down 7.6%; Japan at US$1.9 billion, down 9.5%; the EU at US$1.3 billion, down 26.6% and the US at US$1 billion, down 4.2%.