 |
Illustrative image. (Photo: SGGP) |
Vietnam ran a trade surplus of US$4.07 billion in the first quarter this year, with $79.17 billion in export revenue and $75.1 billion in imports, down 11.9 percent and 14.7 percent annually, respectively, reported the General Statistics Office on March 29.
Of the export revenue, $19.26 billion was contributed by the domestic economic sector and the remaining from the foreign-invested sector, marking a respective annual decrease of 17.4 percent and 10 percent.
During the period, four types of goods earned over $5 billion, accounting for 52.8 percent and 14 others raked in more than $1 billion, making up 77.4 percent.
The domestic sector also spent $26.03 billion in imports, down 13.3 percent while the foreign-invested sector poured $49.07 billion or a 15.4 percent drop. Most of the imports were materials for production, equivalent to 93.5 percent.
The US remains the biggest importer of Vietnam with a turnover of $20.6 billion, followed by China with $23.6 billion. Vietnam’s trade surplus with the US was estimated at $17.5 billion, down 23.4 percent year-on-year while that with the EU reached $6.9 billion.
In a scheme on restructuring the industry and trade sector till 2030, the sector targets maintaining annual trade surplus growth of 6-8 percent.
To that end, the sector looks to continue diversifying export markets and goods, developing export via e-commerce, digitalizing trade promotion activities, and popularizing Vietnamese trademarks.
