Four-month trade surplus hits US$2.53 billion

13:52 30/04/2022

 Vietnam posted a trade surplus of US$1.07 billion in April, bringing the total in the first four months of this year to US$2.53 billion, according to the General Statistics Office (GSO).

Vietnam enjoys a trade surplus of US$2.53 billion during the first four months of this year.

Vietnam enjoys a trade surplus of US$2.53 billion during the first four months of this year.

Total import and export turnover over the four-month period reached US$ 242.19 billion in which, exports hit US$122.36 billion and imports reached US$ 119.83 billion.

In the January-April period, the domestic economic sector suffered a trade deficit of US$ 9.2 billion, while the foreign-invested sector enjoyed a surplus of US$11.73 billion.

Export turnover in April alone was estimated at US$33.26 billion, down 4.2% over the previous month and up 25% on- year.

So far this year, 22 goods groups have seen export revenue exceeding US$1 billion, including five each with a revenue of more than US$5 billion. Exports of fuel and mineral products accounted for 1.3% of the total export revenue, while the contribution from the processing sector is 89%, and that of the agro-forestry and fisheries sectors, 6.8% and 2.9%.

In the period, the trade surplus generated from the EU market stood at US$10.4 billion, representing a year-on-year of 36.1%. In order to promote export in the time to come, the Ministry of Industry and Trade reminded exporters to apply measures against risks while trading with foreign businesses.

Local exporters were also advised to fully utilize the advantages of 15 free trade agreements (FTAs) that Vietnam has signed to boost market diversification.

Throughout the reviewed period, the US remained Vietnam’s largest export market with US$35.7 billion, while China was the largest goods supplier with US$37.1 billion worth of goods.

VOV