VIETNAM EARNS US$8.62 BILLION TRADE SURPLUS IN JAN-MAY

Vietnam had a trade surplus of US$8.62 billion in the first five months of this year, according to the General Department of Vietnam Customs.

The country exported goods worth US$156.28 billion in the period while spending US$147.66 billion on imports

This year’s trade surplus is lower than in the same period last year, which hit US$10.15 billion.

The total value of imports and exports in the January-May period was US$303.94 billion, up by 16%, or nearly US$42 billion, against last year.

Foreign direct investment (FDI) businesses played a crucial role, contributing US$205.4 billion to the total import-export turnover, up by 13.7% year-on-year, or nearly US$25 billion more than the year-ago period.

The FDI sector’s exports amounted to US$111.93 billion, up by 13.1% or US$12.95 billion, while its imports rose by 14.5% to US$93.51 billion.

The United States remained Vietnam’s largest export market, importing an estimated US$44.44 billion worth of goods from Vietnam. Meanwhile, China was the largest supplier to Vietnam, with a value of US$54.88 billion.

Source: The Saigon Times