Trade Surplus Nears US$20 Bln in Jan-Aug

1:24:54 PM | 9/24/2023

Vietnam recorded a trade surplus of nearly US$20 billion in the first eight months of 2023, according to the latest data released by the General Department of Vietnam Customs (GDC).

Vietnam’s total import and export value reached US$436.44 billion in the reporting period, a decrease of US$64.21 billion in value from the same period in 2022. The export value of fruits and vegetables rose 61.8% year on year to US$3.55 billion, including US$464.47 million in August, up 14.8% from the previous month.

Among Vietnam’s main exports, fruits and vegetables were considered the best performer. Given that the average monthly value of nearly US$444 million is maintained till the end of the year, Vietnam may earn a record high of US$5.3 billion from fruit and vegetable exports in 2023. This target is feasible as main fruit and vegetable exports like durian still have much potential for growth. Besides, the later time in the year is also the harvesting season of many key fruits like watermelon and dragon fruit. By market, China is the largest importer of Vietnamese fruits and vegetables. In August, it spent US$266.25 million on Vietnamese vegetables and fruits in August, totaling US$2.26 billion in the January-August period. As a result, China accounted for 63.66% of Vietnam’s fruit and vegetable export value in the first eight months of the year. In addition, the United States, South Korea and Japan are also key importers of Vietnamese vegetables and fruits.

Le Hien, Vietnam Business Forum