Trade surplus hits unprecedented record high
VGP – Viet Nam’s trade surplus is expected at US$ 9.94 billion in 2019 which is an unprecedented high level in four consecutive years, said Deputy Minister of Industry and Trade Cao Quoc Hung.
The miracle made important contribution to GDP growth rate, macro-economic stability, exchange rate stability, and trade balance improvement.
Export turnover was estimated at US$ 264 billion, representing a year-on-year increase of 8% and two-way trade turnover was supposed at over US$ 500 billion.
Of 34 groups of key processing industries, 26 ones gained over US$ 1 billion; 8 others achieved over US$ 5 billion; and three others attained over US$ 30 billion.
Deputy Minister Hung attributed the achievements to drastic directions of the Government and relevant agencies, trade policies, investment, administrative procedures. Especially, Minister of Industry and Trade Tran Tuan Anh tasked relevant units to review and streamline business conditions; facilitate exports; and support enterprises to make the best use of signed FTAs.
Besides, the MoIT also worked with other ministries, agencies, and localities to boost trade promotion activities./.
By Kim Loan
