Vietnam Takes Trade Surplus of US$5.8 Bln in Jan-Sep

Vietnam was estimated to have a US$500 million trade surplus in September 2019, bringing the total value to over US$5.8 billion in the first nine months ending September, down 9.6% year on year.

Crude oil export was estimated at 2.99 million tons worth US$1.51 billion in the first nine months, up 2.6% in volume but down 8.6% in value year on year. Woodwork exports rose 17% year on year to US$7.46 billion from January to September. Textile and garment products brought home US$24.8 billion in the period, up 10.4%. Footwear export was estimated to reach at US$13.3 billion, representing a year on year growth of 13.5%. Computer and electronic exports climbed US$16.8% to over US$25.4 billion.

According to the State Treasury, the budget revenue grossed at VND261.9 trillion (US$11.3 billion) in the 9-month period, fulfilling 87.2% of the estimate and rising 15.7% from a year ago. The customs sector is actively carrying out specific measures to beat the yearly budget plan, including expanding the 24/7 tax collection via banks and simplifying administrative procedures.