Nearly US$1.5 bln in trade surplus for Vietnam in Q1

VOV.VN - Vietnam continued to expand foreign trade in the first quarter of 2022, producing a trade surplus of US$1.46 billion, according to the latest data unveiled by the General Department of Vietnam Customs.

Statistics show the export-import value rose 20% to US$36.66 billion in the second half of March compared to the first half of the same month.

The additional figure helped raise the country’s total foreign trade value in the first quarter to US$176.75 billion, an increase of 14.3% year on year.

Of the three-month total, exports brought back US$89.1 billion, up 13.4%, while imports inched up 15.2% to US$87.64 billion, helping Vietnam secure a trade surplus of US$1.46 billion.

The General Statistics Office reported that five groups of commodities raking in more than US$5 billion in export each were phones and components (>14 billion), electronics, computers and appliances (>13 billion), machinery and equipment (nearly 10 billion), garments (nearly 9 billion), and footwear (>5 billion).

Meanwhile, several groups of commodities having an import value of more than US$5 billion each were electronics, computers and appliances (>21 billion), machinery and equipment (>10 billion) and phones and components (>5 billion).

The FDI sector generated US$123.05 billion of the country’s total foreign trade value, up 12.8%, while the domestic business sector contributed nearly US$53.7 billion, up 17.9%.

The United States was Vietnam’s largest export market in the first quarter with an estimated turnover of US$25.2 billion. China was Vietnam’s largest import market with an estimated turnover of US$27.6 billion.

Notably, Vietnam enjoyed an estimated trade surplus of US$7 billion with the European Union. However, it slipped into an estimated trade deficit of US$14.3 billion with China, US$10.4 billion with the Republic of Korea, US$3.3 billion with ASEAN, and US$434 million with Japan.

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VOV.VN - The Vietnamese economy showed signs of steady recovery in the first three months of the year, securing estimated growth of 5% and controlling the consumer price index at 1.92%.