VN reports trade surplus of US$170 million in first half of June

VN reports trade surplus of US$170 million in first half of June

The maintenance of trade surplus momentum is one of the remarkable achievements of the country’s import-export activities in the context of difficulties due to the COVID-19 pandemic.

Accordingly, from June 1 to 15, Viet Nam’s trade turnover reached US$20.57 billion, up 3.3% (or US$651 million) compared to the latter half of May, with the export revenue standing at US$10.37 billion, down 5.3%.

As of mid-June, Viet Nam raked in a total of US$110.56 billion from export activities, a slight year-on-year decrease of 0.7%, while spending US$106.81 billion importing goods, down 3.9% (or US$4.34 billion) from the same period in 2019.

Viet Nam’s export activities are forecasted to face numerous difficulties in the short term. Although the country has basically succeeded in the fight against COVID-19, its investment attraction and export acceleration depend largely on external factors. 

Meanwhile, the pandemic is still evolving complicatedly in the world and seriously affecting the global economy, requiring a long time to make a recovery. 

Therefore, in the last months of the year, it is likely that Viet Nam’s imports and exports will continue to recover, but the turnover will maintain a declining trend compared to the same period in 2019, causing significant impacts on the country’s export turnover target of US$300 billion set for 2020. 

To support domestic businesses, the Ministry of Industry and Trade has been organizing communications programs to disseminate the benefits brought by free trade agreements (FTAs) and ways to utilize them, in addition to developing the export markets and removing barriers for enterprises to penetrate into new markets and reduce dependence on some certain markets.

                                                                                                        By Vien Nhu