VN posts US$100 million trade surplus
VGP – Viet Nam reported an estimated trade surplus of US$100 million in February, the General Statistics Office has announced.
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Viet Nam reported an estimated trade surplus of US$100 million in February |
In February, the country exported goods worth an estimated US$18.6 billion, up 1.5% inter-monthly, while imports are estimated to have inched down 0.5% to US$18.5 billion.
Meanwhile, import revenue in February was posted at US$18.5 billion, down 0.5% over the previous month but up 26% over the same period last year.
During the first two months of this year, the country is estimated to have reached export revenue of US$36.92 billion, up 2.4% over the same period in 2019, and import revenue of US$37.1 billion, up 2.4% over the same period in 2019.
Thus, the country has posted a trade deficit of approximately US$176 million during the two-month period.
According to the report, Vietnam's export staples during the January - February period are electronic products, computers and components with estimated US$5.4 billion, up 26.7% year-on-year; garment with US$4.5 billion, down 1.7%; equipment and parts with US$3 billion, up 19.6%; footwear with US$2.7 billion, up 3%; wood and wooden products with US$1.5 billion, up 7.1%; transportation vehicles with US$1.4 billion, up 4%.
Phones and parts are predicted to earn the largest export turnover of US$6.9 billion, up 2.3% year-on-year.
The U.S. was the largest export market of Viet Nam in the first two months of 2020 with export revenue of US$9.8 billion, up 19.6% compared to the corresponding period in 2019. It was followed by China, the EU, ASEAN and Japan.
South Korea could claim the second place by exporting US$8 billion worth of goods to Viet Nam, up 9% year-on-year, followed by ASEAN with US$4.5 billion, down 9.6%.
By Vien Nhu
