Trade surplus reaches 16.25 billion USD by mid-August

Vietnam enjoyed a trade surplus of 16.25 billion USD as of August 15, according to the General Department of Customs.

The country’s total import and export turnover hit over 402 billion USD in the period, including 209.43 billion USD in export value, representing a yearly decline of 10.1%, or 23.5 billion USD in comparison with the same period last year.

In the first half of August, Vietnam's trade with the rest of the world was estimated at 28.6 billion USD, of which export value decreased by 10.8 % year-on-year to 14.4 billion USD.

Top exports include phones and accessories (2.42 billion USD); computers, electronic products and components (2.38 billion USD); garments and textiles (1.55 billion USD); and machinery and equipment (1.53 billion USD).

Meanwhile, the country spent 14.2 billion USD on importing commodities in the reviewed period, up 5.3% against the same period last year.

The Ministry of Industry and Trade said it will continue to support businesses to optimise benefits from free trade agreements such as the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), the EU-Vietnam Free Trade Agreement (EVFTA), and the UK – Vietnam FTA (UKVFTA), in an effort to boost exports amid a global market slump.

The ministry has also worked with the Ministry of Agriculture and Rural Development to negotiate with China to open its market to other fruits and vegetables of Vietnam such as green-skinned pomelo, fresh coconut, avocado, pineapple, star apple, lemon, and cantaloupe.