VN expects for trade surplus in fourth consecutive year

The GSO said that export revenue reached an unprecedented record high figure of US$ 169.9 billion and trade surplus valued in the first eight months. In August, Viet Nam ran a trade surplus of US$ 1.7 billion. 

In the January-August period, export turnover saw a year-on-year increase of 7.3%, equivalent to the National Assembly’s preset goal of 7-8%. 

Export growth rates of both domestic sector and FDI sector were 13.9% and 4.6%, respectively. 

Out of 45 commodities, 30 witnessed higher export revenues. Especially in the first eight months, 29 exports earned over US$ 1 billion of revenue each. Eight exports pocketed over US$ 5 billion of export turnovers each including telephones and spare parts with US$ 32.99 billion; computers and spare parts with US$ 21.86 billion; garments and textiles with US$ 21.7 billion; footwear with US$ 11.96 billion; machines and equipments with US$ 11.27 billion; furniture with US$ 6.54 billion; transport and spare parts with US$ 5.7 billion; and aquaculture with US$ 5.44 billion. 

In the first seven months, 24 localities pocketed over US$ 1 billion of export turnover of which seven earned over US$ 7 billion including HCMC with US$ 23.34 billion; Thai Nguyen province with US$ 17.41 billion; Bac Ninh province with US$ 16.64 billion; Binh Duong province with US$ 14.13 billion; Dong Nai province with US$ 10.99 billion; Ha Noi with US$ 8.98 billion; and Hai Phong with US$ 7.27 billion.

The GSO forecast that in 2019, 30 commodities would enter the club of US$ 1 billion export earners of which three will get over US$ 30 billion including telephone, computers, and garments. Noticeably, overseas shipment of telephone is expected to earn over US$ 52 billion of export revenue. 

In the first eight months, import value was only US$ 166.5 billion. 

Viet Nam is expected to gain a trade surplus in 2019, the fourth consecutive yea (US$ 2.68 billion in 2016; US$ 2.7 billion in 2017 and US$ 7.2 billion in 2018)./. 

By Khanh Phuong