Foreign-invested Firms Post $15 Billion Trade Surplus in Vietnam in Jan-Nov

Tuan Minh

11:57 10/12/2015

BizLIVE - Foreign-invested companies in Vietnam posted a trade surplus of $15 billion in the 11 months through November this year, compared to a trade gap of $18.8 billion posted by the domestic sector.

Foreign-invested Firms Post $15 Billion Trade Surplus in Vietnam in Jan-Nov

Foreign-invested firms such as Samsung and LG are major exporters in Vietnam.

Foreign-invested enterprises (FIEs) operating in Vietnam, including those in the oil and gas sector, saw their exports up 13.5% year-on-year in the first 11 months this year to $105 billion, accounting for 70% of the country’s total export turnover, according to the Foreign Investment Agency under the Ministry of Planning and Investment.
Their imports grew 18% year-on-year in the period to $90 billion, making up 59% of Vietnam’s total import value.
Vietnam’s export staples in the 11-month period include phones and spare parts, worth $28 billion; apparel, worth $20 billion; computers, electronics and components, worth $14 billion; and footwear, worth $13 billion. These sectors are mainly dominated by FIEs.
“The FDI sector has maintained high growth rates and contributed majorly to Vietnam’s merchandise export growth over the past few years,” the agency said.

TUAN MINH

Từ khóa: samsung, LG, FDI