Trade Surplus Reaches US$1.3 Bln in Five Months
Vietnam gained US$14.6 billion from exporting in May, up 1.74 per cent compared to the previous month, raising the total export value in five months of the year to US$67.7 billion, a year-on-year increase of 6.6 per cent, according to the statistics the Ministry of Industry and Trade released on June 6.
Of the figure, the State sector contributed US$19.44 billion, up 3.9 per cent while the foreign-invested sector made up US$48.3 billion, up 7.7 per cent.
Some key export items of the foreign-invested sectors witnessed sharp increases in turnover such as phones and spare parts US$14.4 billion, up 20.6 per cent, garment US$8.6 billion, up 6.1 per cent, electronics, computers and accessories US$6.3 billion, up 5.4 per cent.
Vietnam’s import turnover in May reached US$15 billion, up 6.6 per cent against the previous month, which contributed to the total import value in five months to US$66.3 billion, a year-on-year increase of 0.9 per cent.
The State and foreign-invested sectors made up US$27.2 billion and US$39.1 billion (including crude oil), up 0.7 per cent and down 1.9 per cent, respectively.
Vietnam bought the largest amount of goods from China in five months with US$19.2 billion, down 2.9 per cent, then ASEAN US$9.4 billion, down 4.2 per cent, Japan US$5.7 billion down 6.4 per cent, the EU US$3.8 billion, down 3.7 per cent and the U.S. US$3.2 billion, up 4.4 per cent.
May witnessed an estimated trade deficit at US$400 million; however, a trade surplus of US$1.36 billion was recorded for five months.
Minister of Industry and Trade Tran Tuan Anh asked functional agencies to review administrative procedures in exports and imports to help businesses reduce expenditures and improve competitiveness.
He also required communicating free trade agreements for businesses to fully tap benefits brought by them.
VGP
Vietnamese
