Vietnam runs trade surplus of 4.07 bln USD in Q1
Vietnam runs trade surplus of 4.07 bln USD in Q1

Of the export revenue, 19.26 billion USD was contributed by the domestic economic sector and the remaining from the foreign-invested sector, marking a respective annual decrease of 17.4% and 10%.

During the period, four types of goods earned over 5 billion USD, accounting for 52.8% and 14 others raked in more than 1 billion USD, making up 77.4%.

The domestic sector also spent 26.03 billion USD in imports, down 13.3% while the foreign-invested sector poured 49.07 billion USD or a 15.4% drop. Most of the imports were materials for production, equivalent to 93.5%.

The US remains the biggest importer of Vietnam with a turnover of 20.6 billion USD, followed by China with 23.6 billion USD. Vietnam’s trade surplus with the US was estimated at 17.5 billion USD, down 23.4% year-on-year while that with the EU reached 6.9 billion USD.

In a scheme on restructuring the industry and trade sector till 2030, the sector targets maintaining annual trade surplus growth of 6-8%.

To that end, the sector looks to continue diversifying export markets and goods, developing export via e-commerce, digitalising trade promotion activities, and popularising Vietnamese trademarks./.