The surplus is due to Samsung’s export of their new phone, the Galaxy S20, during the month.
In February, Vietnam reported US$18.6 billion worth of export revenue, up 1.5% over the previous month and up 34% over the same period last year.
Meanwhile, import revenue in February was posted at US$18.5 billion, down 0.5% over the previous month but up 26% over the same period last year.
During the first two months of this year, the country is estimated to have reached export revenue of US$36.92 billion, up 2.4% over the same period in 2019, and import revenue of US$37.1 billion, up 2.4% over the same period in 2019. Thus, the country has posted a trade deficit of approximately US$176 million during the two-month period.
The US was the largest export market of Vietnam in the first two months of 2020 with export revenue of US$9.8 billion, up 19.6% compared to the corresponding period in 2019. It was followed by China, the EU, ASEAN and Japan.
In the January-February period, China was the largest import market of Vietnam with import revenue of US$10 billion, down 0.4% over the same period last year. The runners-up were the Republic of Korea, ASEAN, Japan and the EU.
