Viet Nam sets new trade surplus record at US$14.46 billion

VGP – Viet Nam posted a trade surplus of US$14.46 billion as of September 15, with its exports reaching US$187.9 billion and imports standing at US$173.5 billion.

September 22, 2020 4:57 PM GMT+7

According to preliminary statistics by the General Department of Customs, Viet Nam’s trade revenue hit US$24.301 billion in the first half of September, down 8.9% compared to the latter half of August 2020.

Of the figure, export value decreased by 15.8% to US$12.63 billion, while import value picked up 0.1% to US$11.664 billion.

In the first eight months of the year, the nation's trade volume reached US$336.92 billion, including US$175.36 billion in export turnover (up 2.3% year-on-year) and US$161.9 billion in import turnover (down 2.4%).

According to the Ministry of Industry and Trade, the European Union-Viet Nam Free Trade Agreement (EVFTA) coming into effect has brought about significant opportunities for Viet Nam’s exports, helping to diversify export markets and items, especially the country’s strength products subject to high tax cuts, such as farm produce, aquatic products, timber products, garments and textiles, leather & footwear, and electronics.

To maintain the achieved results, the ministry will continue to disseminate commitments in the EVFTA and other FTAs regarding the areas of trade in goods and services, investment, import tariff reduction and elimination, and market access, in order to improve the understanding of the people and businesses./.

By Vien Nhu