Vietnam enjoys US$3 billion trade surplus with Hong Kong
Vietnam enjoyed a trade surplus of US$3.03 billion with Hong Kong (China) in the first half of 2018, a year-on-year increase of 14.6%, according to the General Department of Vietnam Customs.
Two-way trade between the two sides expanded 5.6% to US$4.59 billion, of which Vietnam’s exports to Hong Kong were worth US$3.81 billion, up 9% year on year while imports from Hong Kong approximated US$781 million, down 8.3 percent.
Notably, Vietnam’s exports of computers, electronics and parts hit US$1.05 billion, up 28.6% from the same period last year. They topped the list of export items to Hong Kong in the first six months, accounting for 27.5% of total export revenue to this market.
Other key items included phones and accessories, cameras and parts, machinery and equipment.
Over the past five years, trade between Vietnam and Hong Kong has seen double-digit growth. Last year, bilateral trade reached US$9.2 billion, up 22% from 2016.
Hong Kong was one of the first foreign investors in Ho Chi Minh City. As of June 2018, Hong Kong was the sixth largest foreign investor in Vietnam with total investment of nearly US$19 billion, with Vietnam among the 25 most attractive destinations for Hong Kong businesses.
With the ASEAN-Hong Kong free trade agreement, trade and investment between Vietnam and Hong Kong are expected to grow strongly in the near future.