Vietnam Obtains Trade Surplus of US$160.7Mln with Indonesia

Vietnam’s trade surplus with Indonesia is estimated to have reached US$160.74 million in the first half of this year, up US$120 million on-year, the Ministry of Trade (MoT) said.

 

The country is forecast to bag US$766.47 million from goods exports to Indonesia during the six months, up 70 per cent on-year, while import spending hits US$605.73 million, up 40.69 per cent on-year.

 

Crude oil, rice, coffee, garments and textiles, plastic products, rubber, sugar, coal, computers and electronic products, seafood products, foot wears and vegetables are the country’s key export items.

 

Among them, crude oil achieved the highest revenue of US$371.2 million during the time, followed by rice of US$208.88 million, coffee of 59.12 million, apparels of US$12.38 million, plastic products of 3.47 million, sugar of US$1.94 million and coal of 1.62 million.

 

Vietnam mainly imports computers and electronic products, vegetable oil, paper, auto spare parts, iron and steel, machineries and equipment, cattle food and materials, chemicals, fibres and cloth from Indonesia.

 

In the six-month period, the country spends the most on the import of computers and electronic products (US$ 62.41 million, up 177.14 per cent on-year), vegetable oil (US$57.46 million, up 173.93 per cent), paper (US$56.19 million, up 143.58 per cent), auto spare parts (US$37.29 million, up 100 per cent), iron and steel (US$29.65 million, up 137.6 per cent), machineries and equipment (US$29.22 million, up 116.8 per cent), and cattle food and materials (US$22.12 million, up 340 per cent).

 

The two ASEAN member countries set up an official diplomatic relationship in 1955.

 

Bilateral trade between the two sides had been increased from US$810 million in 2002 to US$1.17 billion in 2005.