Vietnam Trade Surplus Hits US$290 Mln in Jan-Feb, First Time in 2006-09: GSO

Vietnam has logged a trade surplus of US$290 million in the first two month this year, the first time over the past three years, the government’s General Statistics Office said.

 

“Vietnam’s had trade surplus of US$400 in February,” Deputy Director of GSO’s Trade Department Le Thi Thanh Thuy was quoted by Vietnam News Agency as saying.

 

“GSO initially believed that the Asean country will incur a trade gap in January, but by end-January it exported more than imported,” Ms Thuy noted.

 

Trade surplus is attributed to impacts of the global economic downturn, which pushed down sharply consumer demand and prices, she explained.

 

In Jan-Feb, Vietnam’s imports were down 43.1 per cent to US$7.7 billion and its exports dropped 5.1 per cent to US$8 billion, the GSO said.

 

In the first two months, Vietnam gained US$958 million from crude oil shipments, down 42.4 per cent, US$100 million from rubber exports, down 50.5 per cent on year, US$400 million from rice shipments [taking the lead], up 113.2 per cent on year, US$100 million from cashew exports.

 

Notably, Vietnam exported US$800 million of gold. (VNS)