Want to be in the loop?
subscribe to
our notification
Business News
TRADE SURPLUS TOUCHES US$4.1 BILLION BY MID-FEBRUARY
As of February 15, Viet Nam's total trade with the rest of the world hit US$84.74 billion, of which export value stood at US$ 44.42 billion.
As such, the Southeast Asian country ran a trade surplus of US$4.1 billion in the reviewed period, according to the General Department of Viet Nam Customs.
In the first half of February, total trade turnover was estimated at US$19.3 billion, a sharp decline in comparison with the first half of January due to Tet holiday which falls on February 8-14.
Specifically, export turnover was estimated at US$10 billion, seeing three commodities raking more than US$1 billion each, including computers, electronic products and spare parts with US$1.86 billion, mobiles and spare parts with US$1.6 billion, machines, equipment and spare part with US$1.18 billion. Meanwhile, import turnover valued US$9.4 billion.
With a positive economic outlook, the Ministry of Industry and Trade aims to increase exports by 6 percent in 2024, running a trade surplus for nine years in a row, estimated at US$15 billion.
Source: VGP
Related News
GREEN ECONOMY, DIGITAL ECONOMY BREAKTHROUGH OF VIETNAM-CHINA TIES: PM
Addressing a Hanoi seminar with 19 Chinese groups operating in green economy and digital economy, the leader said the meeting, the first of its kind, aims to materialise high-level perceptions reached by Party General Secretary Nguyen Phu Trong and Party General Secretary and President of China Xi Jinping, who agreed to build the Vietnam-China community with a shared future.
CONSUMER CONFIDENCE IN ECONOMIC RECOVERY REACHES FIVE-QUARTER HIGH
Vietnam's GDP expanded by a healthy 5.66 per cent in the first quarter of 2024, marking the strongest first-quarter growth since 2020. While slower than the previous quarter's 6.7 per cent growth, this momentum indicates the country is on track to achieve its 2024 economic targets.
THE VIET NAM IMPORT-EXPORT REPORT TO BE RELEASED THURSDAY
In particular, it includes an itemised import and export report, in specific markets and also includes an overview of all State management activities and policy mechanisms related to the import, export market along with details of all the legal documents issued in the year.
TAX AND FEE SUPPORT HINGES ON MPI PROPOSAL APPROVAL
“Business and production activities of enterprises remain in big difficulties. Domestic purchasing power has reduced and people are tightening their belts,” the MPI stated. “Demands in the domestic market are still standing at a low level, while manufacturing and processing enterprises have low competition. These are among the biggest difficulties.”
VIETNAM’S TEXTILE SECTOR BRINGS IN $37 BILLION IN FDI
The foreign-invested enterprises play an important role in the textile and garment sector, contributing 65 per cent to the sector’s total export turnover. Major investors mainly come from South Korea, Taiwan, Hong Kong, and China. Among them, South Korea is the largest foreign investor in Vietnam’s textile and garment sector.
FDI FLOWS STRONGLY INTO MANUFACTURING, REAL ESTATE
According to the General Statistics Office (GSO), the total FDI disbursed in Vietnam in the first four months of this year reached an estimated 6.28 billion USD, up 7.4 per cent year on year, the highest four-month amount in the past five years.