Việt Nam posts trade surplus of $9.4 billion in 10 months

HÀ NỘI — According to the General Statistics Office, Vit Nam posted a trade surplus of $9.4 billion in the first ten months of 2022, compared to a surplus of $630 million during the same period in 2021. (GSO).

The GSO reported on October 29 that the country’s total export and import value was estimated at $58.27 billion in October, an increase of 0.1% month over month and 5.7% year over year.

The ten-month foreign trade totaled approximately $616.24 billion, an increase of 14.1% from the same period last year.

This included $312.82 billion in exports, an increase of 15.9%, with $80.36 billion from the domestic sector (an increase of 13.4%) and $232.46 billion from the foreign invested sector (up 16.8 per cent).

During the period, thirty-two commodities recorded export revenues of over $1 billion, accounting for 92.8% of all international shipments. Six of them earned over $10 billion each, representing 64.1% of the total.

Meanwhile, Vit Nam imported approximately $303.42 billion worth of goods, an increase of 12.2% year-over-year, with the domestic sector accounting for $105.28 billion (an increase of 12.5%) and the foreign-invested sector accounting for $198.14 billion (up 12 per cent).

Each of the forty-four commodities with import values exceeding $1 billion accounted for 93% of total imports. According to the statistics, four of them estimated this amount to be over $10 billion, accounting for 52.7% of the total.

Between January and October, the United States was the largest importer of Vietnamese goods, spending approximately $93.4 billion. China ranked first among exporters, shipping Vit Nam goods worth $100.7 billion.

The Ministry of Agriculture and Rural Development reported that agro-forestry-aquatic product exports and imports totaled $82.1 billion in the ten months, a 10.2% increase from the same period last year.

This included $44.9 billion in exports (an increase of 14.1%) and $37.2 billion in imports (an increase of 5.8%), resulting in a trade surplus of $7.7 billion (up 83.7 per cent).

Coffee, rubber, rice, fruits and vegetables, cashew nuts, shrimp, tra fish, and wood products are the eight products/product groups that have generated over $2 billion in export revenue since the beginning of the year.

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