Vietnam posts trade surplus in first two months

Latest data shows export revenue in January and February was US$21.1 billion while imports were estimated at US$20.8 billion.

Imports rose 12.3% and exports 17% over the same period last year.

The foreign sector continued to lead export growth, bringing in US$13.9 billion during the two-month period while domestic enterprises only grossed US$7.2 billion.

Smartphones, garment and footwear products were the major exports, earning respective revenues of US$3.3 billion, US$3.2 billion and US$1.5 billion.

Foreign-invested enterprises imported goods worth US$11.7 billion in the first two months of the year while the domestic sector's imports were US$9.1 billion.

The main imports were machinery, fabric and oil refinery products.

According to the GSO, revenue of retail sales and services was estimated at VND474.1 trillion (US$22.3 billion) in January-February, up 11.6% compared with a year earlier.

(Source: Nhandan Newspaper Online)