Home breadcru News breadcru Import/Exports breadcru Vietnam sees trade surplus of around $4 bn during Jan-Aug 2022

Vietnam sees trade surplus of around $4 bn during Jan-Aug 2022

30 Aug '22
1 min read
Pic: Shutterstock
Pic: Shutterstock

Between January and August this year, Vietnam witnessed a trade surplus of $3.96 billion, according to the general statistics office (GSO), which recently revealed that the country’s import-export turnover is estimated to reach $64.34 billion in August—up by 5.2 per cent month on month (MoM) and 17.3 per cent year on year (YoY). The trade surplus was nearly $4 billion in the eight months.

The import-export turnover during the January-August period was worth $497.64 billion—up by 15.5 per cent YoY, of which exports were worth $250.8 billion (up by 17.3 per cent) and imports worth $246.84 billion (up by 13.6 per cent).

During the eight-month period, the United States was Vietnam’s biggest importer, buying $77.7 billion worth goods, while China was the largest exporter, selling goods worth $82.1 billion, a news agency reported.

Vietnam saw a trade surplus of $21.6 billion with the European Union, and a trade deficit of $47.8 billion with China during the period--up by 46.4 per cent and 21.9 per cent YoY respectively.

ALCHEMPro News Desk (DS)

Get Free Weekly Market Insights Newsletter

Receive daily prices and market insights straight to your inbox. Subscribe to AlchemPro Weekly!