TRADE SURPLUS EXCEEDS US$8 BILLION IN Q1

Viet Nam ran a trade surplus of US$8.08 billion in the first three months of 2024, according to the General Statistics Office (GSO).

Viet Nam's trade with the rest of the world was estimated at US$65.09 billion in March, an increase of 35.6 percent against the previous month and up 12 percent against the same period last year, the GSO said Friday.

In the first quarter, the country's trade volume totalled US$178.04 billion, a year-on-year increase of 15.5 percent, of which export turnover rose by 17 percent to US$93.06 billion while imports grew 13.9 percent to US$84.98 billion.

In the reviewed period, 16 export items earned over US$1 billion each, accounting for 82.1 percent of total export turnover.

The U.S. was the largest importer of Viet Nam by spending US$26.2 billion, followed by China with US$29.4 billion.

Viet Nam posted a trade surplus of US$8.08 billion in the first quarter compared to US$4.93 billion of the same period last year. The domestic sector reported a trade deficit of US$4.49 billion while the FDI sector ran a trade surplus of US$12.57 billion.

The Southeast Asian country ran a trade surplus with its key partners including US$22.7 billion with the U.S (up 27.9 percent), US$8.2 billion with the EU, up 15.8 percent, and US$50 million with Japan, down 27.7 percent.

Meanwhile, the country suffered a trade deficit of US$16.7 billion with China, up 44.4 percent, US$6.2 billion with South Korea, down 3.5 percent and US$2.2 billion with ASEAN, up 10.9 percent.

Source: VCCI