Vietnam enjoys trade surplus of 710 million USD in six months

Vietnam enjoyed a trade surplus of 710 million USD in the first six months of 2022, the General Statistics Office (GSO) reported on June 29.

Illustration

According to the office, in the first half of this year, total import-export revenue is estimated to reach 371.17 billion USD, up 16.4% year on year, with imports of 185.94 billion USD, a rise of 17.3% over the same period last year.

In the period, the domestic economic sector suffered trade deficit of 15.97 billion USD, while the foreign-invested sector saw trade surplus of 16.68 billion USD.

In June, import-export turnover is estimated at 32.65 billion USD, up 5.6% over the previous month.

In the second quarter of 2022, export revenue reached 96.8 billion USD, a rise of 21% year on year and 8.7% over the previous quarter.

In the January-June period, 28 products recorded export revenue of over 1 billion USD, and five earning revenue exceeding 10 billion USD.

The GSO reported that the country imported about 32.37 billion USD worth of products in June, pushing the total imports in the first half of 2022 to about 185.23 billion USD, an increase of 15.5% year on year.

The US remained the largest export market of Vietnam so far this year buying about 55.9 billion USD worth of products. China is the biggest source of Vietnam's imports with 61.3 billion USD.

In the first six months of 2022, Vietnam saw a 39% rise in trade surplus with the EU to about 15.5 billion USD. Meanwhile, the country suffered trade deficit of 35 billion USD with China, up 21.7%.

In order to promote exports in the time to come, the Ministry of Industry and Trade advised local exporters to apply measures to avoid risks during export activities, while optimising advantages from 15 free trade agreements that Vietnam has signed with partners to diversify export markets./.

VNA