Vietnam records US$2.76 billion trade surplus in 11 months

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This marks a slight decrease against a US$2.9 billion surplus seen in 2016.

The total export value during the reviewed period was US$193.75 billion and that of imports was US$190.99 billion, up 21.1% and 21% year-on-year, respectively.

The ministry said that agriculture and seafood exports during this period rose 16.9% year on year to reach US$23.5 billion, accounting for12.1% of total export turnover.

Export of crude, coal, petrol and minerals is estimated at US$3.94 billion, up 26.4% year-on-year, accounting for 2.0% of total export turnover.

The export of processed goods reached US$157.3 billion, up 22.4% over the same period last year, accounting for 81.2% of total export turnover.

Asia has emerged the main importer of Vietnamese goods, with a year-on-year increase of 30.8%, accounting for 52.1% of total exports.

It estimates that import turnover in the first 11 months of 2017 increased by a significant 21% year-on-year.

Asia was also the biggest supplier of goods, with Vietnamese imports from this market rising strongly by 22.2% year-on-year, accounting for 81% of total import turnover.

The ministry says that Vietnam’s total export turnover in 2017 is expected to reach the highest level since 2011, far exceeding the US$202 billion target set for the year. The annual export figure is estimated at US$210 billion, an increase of 20% compared over 2016.