Specifically, export turnover totalled US$202.86 billion, up 4.2% year-on-year, and import turnover hit US$185.87 billion, down 0.8%, resulting in a trade surplus of US$16.9 billion.

Vietnam reports a trade surplus of US$16.9 billion in the first nine months of 2020.

The domestic economic sector remained the driver of Vietnam’s export growth with a nine-month value of US$71.8 billion, a sharp rise of 20.2% and accounting for 35.4% of the total. Meanwhile, the foreign-invested sector (including crude oil) reported US$131 billion in export revenue, down 2.9% and equivalent to 64.6% of the total.

A total of 30 goods registered an export turnover of more than US$1 billion each between January and September, making up 91.3% of the total value, including five with over US$10 billion each, equivalent to 59.8%.

Meanwhile, nine-month import revenues were estimated at US$82.3 billion in the domestic sector, up 4.7% year-on-year, and US$103.5 billion in terms of the foreign-invested sector, down 4.8%. There were 32 import items with a value of over US$1 billion each, representing 88.3% of the total figure.

In September alone, Vietnam exported US$27.5 billion worth of products, down 0.7% from the previous month, and imported US$24 billion, up 5.6%, working out as a trade surplus of US$3.5 billion.

During the nine-month period, the US remained Vietnam’s largest importer with revenue of US$54.8 billion, a year-on-year surge of 22.9%, followed by China with US$31.9 billion (up 12.7%), the EU with US$26 billion (down 2.6%), ASEAN with US$17 billion (down 12.5%), the Republic of Korea with US$14.5 billion (down 2%) and Japan with US$14.1 billion (down 5.7%).

Meanwhile, China was Vietnam’s largest exporter with revenue of US$56.8 billion, up 2.7% compared to the same period of 2019. The Republic of Korea was in second place with US$32.8 billion (down 7.1%), followed by ASEAN with US$21.8 billion (down 8.7%), Japan with US$14.6 billion (up 2.8%), the EU with US$10.8 billion (up 5.6%) and the US with US$10.5 billion (down 1.6%).

Steel exports to China multiplies 19 times

Vietnam’s steel exports to China surged 19 times to 2.07 million tonnes between January and August on the strength of rising demand in a recovering economy.

Promoting export potential of Vietnamese agricultural products

The online international trade promotion conference for Vietnamese food and agricultural products in 2020 opened in Hanoi on September 22, promising to promoting Vietnamese food and agricultural products’ export potentials.

Vietnam enjoys US$3.78 billion in exports to EU since bilateral FTA taking effect

Vietnam enjoyed exports worth US$3.78 billion to the European Union (EU) in only one month since the EU - Vietnam Free Trade Agreement (EVFTA) took effect at the beginning of August.

Ben Tre exports first batch of fruit to EU under EVFTA

The first batch of fruit from Ben Tre sent to the European Union (EU) with a zero tax rate under the EU-Vietnam Free Trade Agreement (EVFTA) was announced on Thursday (Sep 17).

Vietnam exports first batch of passion fruit to Europe

The Ministry of Agriculture and Rural Development (MARD) held a ceremony in Gia Lai Province on September 16 to announce the export of the first batch of Vietnam-grown passion fruit to Europe under the European Union-Vietnam Free Trade Agreement (EVFTA).

Source: NDO