Trade surplus hits USD1.6 billion from early this year

Over the past five years, the country's export turnover reached USD58.5 billion, a year-on-year rise of 15.4%, reported GSO. Of this, domestic economic sectors earned an export turnover of USD19 billion, up 11.9% while export turnover of foreign invested areas (including crude oil) was estimated at USD39.5 billion, up 17.1%.

Some major export commodities during the period earned significant turnover, such as telephony and its components (USD10.6 billion), garments and textiles (USD7.4 billion), footwear (USD3.8 billion), seafood (USD2.9 billion), machinery and machine equipment (USD2.7 billion), transport vehicles (USD2.4 billion), wood and wood products (2.4 billion) and coffee (USD2 billion).

The US was the largest export market for Vietnam's commodities at USD10.8 billion, a year-on-year rise of 22.6%. Following were the EU (USD10.7 billion), ASEAN (USD7.5 billion), China (USD6.1 billion), Japan (USD5.9 billion) and the Republic of Korea (USD3.5 billion).

The country's commodity imports were valued at USD56.8 billion between January and May 2014, up 9.6% compared to the same period last year. This figure included USD24.3 billion of domestic economic sectors, up 7.2% and USD32.5 billion of foreign invested area, up 11.4%.

(Source: Dangcongsan.vn)