Vietnam Trade Surplus Widens to $2.45 Billion as Deficit with China Narrows

Tuan Minh

11:37 01/09/2016

BizLIVE - Vietnam reported a trade surplus of $2.45 billion in the first eight months of this year as its trade gap with China fell 11.9% year-on-year.

Vietnam Trade Surplus Widens to $2.45 Billion as Deficit with China Narrows

Vietnam posted a trade surplus of $2.45 billion in January-August. Photo: Internet

Vietnam posted an estimated trade surplus of $200 million in August, resulting in a surplus of $2.45 billion in the first eight months of this year, compared to a shortfall of $3.6 billion in the same period of 2015, data of the General Statistics Office showed.
During the eight-month period, the country raked in $112.19 billion from exports, rising 5.5% year-on-year, and its import turnover slid 0.3% to $109.74 billion.
Foreign-invested enterprises, including those in the oil and gas sector, reported a trade surplus of $15.18 billion, versus a deficit of $12.73 billion of domestics companies.
The U.S. remained the largest export market of Vietnam, with a turnover of $24.6 billion, followed by the EU, China and Japan.
Meanwhile, China continued to be the largest goods providers for Vietnam. Notably, the country’s trade shortfall with China decreased 11.9% year-on-year to some $19 billion.

 

TUAN MINH