VN enjoys trade surplus of US$1.87 bln in 10 months

14:14 | 03/11/2014

VGP – Viet Nam enjoyed a trade surplus of US$1.87 billion over the past ten months of 2014, according to the Department of Import-Export Administration, under the Ministry of Industry and Trade.

Illustration photo

The figure, which has actively contributed to guaranteeing foreign reserves, stabilizing exchange rates and the macro-economy, is regarded as a good sign to prove the recovery in the domestic production.

In October, the nation earned US$13.2 billion from exports, up 4.5% compared to the previous month.

The exports totaled US$123.1 billion in 10 months, witnessing a year-on-year increase of 13.4 %, of which US$40.6 billion and US$82.5 billion were made by the domestic economic sector and the foreign-invested sector, up 12.9% and 13.6%, respectively.

The shipment of phones and accessories ranked first with US$19.2 billion, up 6.9%, followed by garment with US$17.6 billion, up 19.3%, footwear US$8.2 billion, up 23.1%, aquatic products US$6.5 billion, up 20.6% and timber US$5 billion, up 13.3%.

The US was the largest importer of Viet Nam’s products during the reviewed time, making an import turnover of US$23.4 billion, up 20%. It was followed by the EU US$22.6 billion, up 12.8%, ASEAN US$15.5 billion, up 0.5%, China US$12.5 billion, up 16.2%, Japan US$12.3 billion, up 10.9% and the Republic of Korea US$6.1 billion, up 10.9%.

Over the past 10 months, Viet Nam’s import turnover obtained US$121.2 billion, up 11.2%. The foreign-invested and domestic sectors recorded US$68.7 billion and US$52.5 billion, up 10.7% and 12%, respectively.

China remained Viet Nam’s largest exporter, obtaining a turnover of US$35.6 billion, up 17.1%.

The country’s export and import turnovers are estimated to achieve around US$148 billion and US$146.5 billion in 2014, up 12% and 11%, respectively.

By Thuy Dung