Vietnam records trade surplus of over $24 bn in year to mid-Nov

The country’s export turnover reached $306 billion—a drop of 6.4 per cent year on year (YoY), with imports hitting $281.6 billion.

The trade turnover during the first half of November reached nearly $30 billion, of which exports grossed $14.65 billion and imports $14.77 billion. Textile and garment exports during that fortnight were worth $1.29 billion. Imports included raw materials for textiles, garments, leather and shoes.

Despite improving trade balance, the country’s exports are facing issues like weak purchasing power from major markets.

The country’s economy has been directly affected by the global economic recession due to the former’s openness, a factor leading to numerous difficulties for exports and domestic consumption, domestic media outlets reported.

ALCHEMPro News Desk (DS)