VN enjoys trade surplus of over US$19 billion as of mid-November
17:14 | 24/11/2020

VGP – Viet Nam posted a trade surplus of US$19.42 billion as of mid-November despite registering a slight deficit in the first half of this month.

Specifically, according to the latest preliminary statistics of the General Department of Customs, Viet Nam’s import-export value from November 1 to 15 reached US$23.15 billion, down 13.8% or US$3.71 billion compared to the latter half of the previous month.

As of November 15, Viet Nam’s trade revenue hit US$463.11 billion, up 2.7% or US$12.32 billion over the same period in 2019.

Regarding exports, the country raked in US$241.26 billion, representing a year-on-year increase of 4.9% or US$11.25 billion.

Meanwhile, by the end of November 15, Viet Nam spent a total of US$221.85 billion on importing commodities, a slight surge of 0.5% or US$1.07 billion year-on-year, with a value of US$11.61 billion registered for the first half of this month, down 6% or US$740 million from the latter half of October.

Despite a slight slump in the first half of November, Viet Nam’s import-export turnover has still maintained an upward momentum since the beginning of the year, with exports being a bright spot.

The Ministry of Industry and Trade forecasts that Viet Nam’s trade from now until the end of the year will continue to grow more positively than previously as many countries begin to ease pandemic control measures and accelerate the recovery and open-door process.

In addition, exports in the remaining months can get a strong boost from the EU-Viet Nam Free Trade Agreement (EVFTA) coming into force since August 1.

Together with the EVFTA being put into effect, if the disease is put under control in Europe, Vietnamese businesses will benefit a lot from the reduction and elimination of tariff barriers into the EU and can further exploit this market./.

 By Vien Nhu
          

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