Vietnam Posts $500 Million Trade Surplus in October: Customs

Tuan Minh

10:41 17/11/2015

BizLIVE - Vietnam had a trade surplus of $499.55 million in October, versus a trade gap of $220.57 million in September, according to data of the General Department of Vietnam Customs.

Vietnam Posts $500 Million Trade Surplus in October: Customs

Vietnam posted a trade surplus of $499.55 million in October.

Vietnam’s exports increased 3.6% month-on-month to $14.31 billion while its imports slid 1.6% month-on-month to $13.81 billion, the department said in its latest report.
In the first ten months of this year, the Southeast Asian country fetched $134.41 billion from exports, rising 8.3% year-on-year, and spent $137.99 billion on imports, up 13.7%, leading to a trade gap of $3.58 billion.
Among Vietnam’s export staples, mobile phones and spare parts saw export revenue up 31.8% year-on-year to $25.67 billion, exports of apparel products rose 9% to $18.95 billion and shipments of computer, electronic and spare parts totaled $12.81 billion, up 44.7%.
The country, meanwhile, spent $22.91 billion on importing machinery, equipment and spare parts, up 25.8% year-on-year, $19.35 billion on importing computer, electronic and spare parts, up 28.4%, and $8.39 billion on purchasing cloth, up 7.9%.
Foreign-invested enterprises continued to outperform domestic peers when recording a trade surplus of $10.21 billion in the ten-month period.
 
The government-run General Statistics Office late last month said that the country incurred a trade deficit of $100 million in October, resulting in a gap of $4.1 billion in the ten-month period.

TUAN MINH