VN enjoys trade surplus in eight months

Illustration photo

During 27 years (from 1985-2011), Viet Nam always suffered an excess of imports over exports (except 1992, with an excess of exports over imports valued US$40 million).

The export turnover in the recent eight months attained nearly US$74.1 billion, which has set a new record (higher than the whole year of 2010 with US$72.2 billion).

The export value in 2012 is expected to surpass $110 billion, higher than the plan set for the whole year.

The 8-month export turnover increased 19% against the same period last year. The export of cameras, film cameras and spare parts ranked the first with an increase of 241.3%, then followed by phones and components 136%, computers, electronics and spare parts 83.8%, fertilizers 68.6%, plastic 64.2%, electric wire and cable 49.3%, vehicles and accessories 47.6%.

Viet Nam has now 16 export commodities gaining a turnover of at least US$1 billion each and 24 export items named in the US$500 million turnover list.

The export value of garment takes lead with US $9.8 billion. 

The country’s export turnover to 21 countries and territories achieved at least US$1 billion each. The US is the largest trading partner of Viet Nam with the total export value of $13 billion, followed by Japan nearly $8.7 billion, China US$8.4 billion, Republic of Korea $3.5 billion, Malaysia $2.9 billion, Germany $2.6 billion, Hong Kong $2.2 billion, and Cambodia $1.9 billion. 

Among with Viet Nam is enjoying the excess of exports over imports at 53 out of 78 trading partner markets, including the US with more than US$9.71 billion, Hong Kong $1.6 billion, Cambodia $1.52 billion, the UK $1.5 billion, Germany $1.09 billion, United Arab Emirates $1.06 billion and Japan $1.04 billion.

By Thuy Dung