Vietnam’s monthly trade value reaches all-time high in July

18-Aug-2018 Intellasia | Hanoi Times | 6:14 AM Print This Post

Vietnam`s export-import turnover in the first seven months of 2018 was higher than that of the whole year of 2013, stated general Department of Vietnam Customs (GDVC).

Vietnam’s trade turnover in July stood at an all-time high of $41.27 billion on a monthly basis, up 6.1 percent against June, according to the GDVC.

In July, Vietnam exported $20.32 billion worth of goods, up 2.4 percent compared to June, while the country’s import turnover was up 10 percent to hit $20.95 billion.

This was the second month in 2018 in which both export and import turnovers exceed $20 billion, the GDVC noted.

Notably, Vietnam’s export-import turnover in the first seven months of 2018 was higher than that of the whole year of 2013, stated the GDVC. In the JanuaryJuly period, Vietnam’s trade value stood at $266.17 billion, up 13.5 percent year-on-year or $31.74 billion, and is higher than $264.07 billion in 2013.

During this period, both exports and imports maintained high growth rates from a year earlier, for which exports reached $134.51 billion, up 16 percent year-on-year, and imports of $131.66 billion, up 11 percent year-on-year.

Due to a strong growth in imports over the last three months, Vietnam’s trade balance was shifted from a surplus in the JanuaryApril period to a deficit in May and July. However, Vietnam still recorded a trade surplus of $2.85 billion in the first seven months, standing in sharp contradiction with a trade deficit of $2.61 billion recorded in the same period of last year.

Additionally, trade turnover of the FDI sector was reported at $27.16 billion in July, up 10.4 percent month-on-month, taking the total value in the first seven months of the sector to $172 billion, up 13.3 percent or $20.24 billion year-on-year.

Meanwhile, the sector’s import value climbed 18.3 percent month-on-month in July to $12.96 billion, resulting in the figure of $77.81 billion in the JanuaryJuly period, up 10.4 percent year-on-year.

This resulted in a trade surplus of $1.24 billion for the FDI sector in July and of $16.39 billion in the first seven months of 2018.

http://www.hanoitimes.vn/economy/trade-service/2018/08/81E0CB5B/vietnam-s-monthly-trade-value-reaches-all-time-high-in-Jul/

 

Category: Economy, Vietnam

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