Analyses & Etudes

Vietnam posts 1.36 billion USD trade surplus in Q1

Vietnam registered a trade surplus of 1.36 billion USD in the first quarter of 2016, Ha Noi Moi (New Hanoi) newspaper reported. 

According to General Department of Vietnam Customs statistics total import-export turnover of the country in Q1 reached 76.17 billion USD, a year-on-year increase of 1.1 percent (817 million USD).
Exports for the first three months rose 6.6 percent to 38.77 billion USD while imports declined 4 percent to 37.4 billion USD.

The department highlighted some major exports during the period, including mobile phones and components being up 24.2 percent to 8.27 billion USD, textiles and garments up 6.5 percent to 5.12 billion, computers, electronic products and accessories up 4.9 percent to 3.73 billion and footwear up 9.6 percent to nearly 2.8 billion USD.

Seafood, rice, fruit and vegetable exports also rose.

The US remained Vietnam’s largest export market, valued at 7.9 billion USD, an increase of 11.1 percent. Vietnam’s exports to ASEAN and Japan declined 9.9 percent and 0.4 percent to 4.2 billion and 3.2 billion, respectively.

Source: Vietnam Plus