Vietnam posts trade surplus of US$3.1 billion in first seven months

Exports during the period were estimated at US$133.69 billion, up 15.3% annually, while imports were valued at US$130.63 billion, up 12.7% over the same period of 2017.

The first seven months of 2018 saw domestic enterprises record a trade deficit of US$15.1 billion, while the foreign-invested sector, including crude oil revenues, ran a surplus of US$18.2 billion.

Foreign enterprises remained the main export driver of the Vietnamese economy, accounting for 70.8% of the country's total export revenues during the January-July period.

A breakdown of the export markets shows that the US was the largest buyer of Vietnamese goods with US$25.5 billion, up 8.9%, followed by the EU and China, with their imports from Vietnam worth US$24.2 billion and US$19.5 billion respectively.

Exports to the ASEAN market also recorded strong growth at 16.2% to US$14.2 billion, while exports to the Republic of Korea surged by 32% to reach US$10.2 billion.

On the other side, China remained the largest source of Vietnam's imports with US$35.8 billion. The Republic of Korea came second with US$26.5 billion and ASEAN third with US$18.1 billion.

(Source: NDO)