Trade Surplus Surpasses US$16.25 Billion by Mid-August

1:57:00 PM | 8/24/2023

Viet Nam's trade with the rest of the world was estimated at US$ 28.6 billion in the first half of August, of which export value decreased by 10.8 percent on year to US$14.4 billion.

Top exports include phones and accessories (US$2.42 billion); computers, electronic products and components (US$2.38 billion); garments and textiles (US$1.55 billion); and machinery and equipment (US$1.53 billion).

Meanwhile, Viet Nam spent US$14.2 billion on importing commodities during the first half of August, up 5.3 percent against the same period last year.

As of August 15, the Southeast Asian country's trade turnover reached over US$402 billion including US$ 209.43 billion in export value, representing a year-on-year decline of 10.1 percent, or US$ 23.5 billion in comparison with the same period last year. 

The Ministry of Industry and Trade (MoIT) said it would continue support for businesses to optimize benefits from free trade agreements (FTAs) such as the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), the EU-Viet Nam Free Trade Agreement (EVFTA), and the UK-Viet Nam Free Trade Agreement (UKVFTA), in an effort to boost exports amid a global market slump.

The MoIT has also coordinated with the Ministry of Agriculture and Rural Development to negotiate with China to open its market to other Vietnamese fruit and vegetable products such as green-skinned pomelo, fresh coconut, avocados, pineapple, star apple, lemon, and cantaloupe.

Source: VGP