Trade surplus set new record of more than US$18 billion

	Vietnam confident to gain trade surplus of US$7 billion in 2020
	Nation racks up trade surplus of US$17.3 billion by mid-October
	Trade surplus hits record high of US$17 billion over nine-month period

Vietnam's trade surplus set a new record of more than US$18 billion USD. Photo: T. Binh.

Regarding import and export activities, the total value in October is estimated at US$50.7 billion, down 1.3% from the previous month. Of which, total export value is estimated at US$26.2 billion, down by 3.5% and total import value US$24.5 billion, up 1.2%. The country's export value increased by 7.9% and import value increased by 10.1% compared to the same period in 2019.

With the above developments, Vietnam’s merchandise trade balance of Vietnam in October is estimated to see a surplus of US$1.7 billion.

Thus, by the end of October, the total import-export turnover is estimated at US$439.32 billion, up 2.5% over the same period in 2019. Of which, the total export value is estimated at US$228.77 billion, up 4.2% and the total import value is estimated at US$210.55 billion, up 0.4% over the same period in 2019.

Vietnam merchandise trade balance in the first 10 months of 2020 maintains a record surplus of over US$18.22 billion.

The exported items with notable fluctuations in October are crude oil and ores of all kinds.

Specifically, crude oil exports in October are estimated at 446,000 tons, up 6.9% and worth US$135 million, up 3.9% over the previous month.

In the first 10 months of the year, the volume of exported crude oil is estimated at 4,341 million tons and valued at US$1,447 billion, up 28.1% in volume and down 16.4% in value over the same period in 2019.

Exports of ores of all kinds in October are estimated at 400,000 tons, up 99.3% and worth US$9 million, down 18.8% over the previous month.

By the end of October, the export volume of ores is 2.767 million tons, worth US$188 million; up 10% in volume and down 1.2% in value compared to the same period last year.

The imported goods with notable fluctuations include: crude oil is estimated at 1.35 million tons and valued at US$424 million. By the end of October, it is estimated at 10.219 million tons and valued at US$3.338 billion, up 51.6% in volume and 4.7% in value over the same period in 2019.

Petroleum of all kinds is estimated at 450,000 tons, up 0.9% and valued at US$170 million, up 3.1% over the previous month. By the end of October, it is estimated at 6,841 million tons and valued at US$2,703 billion, down 15.4% in volume and 45.4% in value over the same period in 2019.

Computers, electronic products and components are estimated at US$6.2 billion, down 2% from the previous month; by the end of October, they are estimated at US$51.28 billion, up 20.2% over the same period in 2019.

Notable imported products are CBU cars estimated at 15,000 units, up 14.4% and valued at US$297 million, up 16.1% over the previous month.

Import & export reaches $361.5 billion, trade surplus continues hitting new record VCN – In the first half of September, export turnover continued to flourish, especially exports, thereby bringing ...

By the end of October, car imports are estimated at 81,000 units, worth US$1,774 billion, down 33.1% in volume and 34% in value over the same period in 2019.