Exports outpace imports during month for a surprising trade surplus.
The General Department of Vietnam Customs has released export and import figures for August and the first eight months of the year.
Total trade during August reached $28.6 billion. Export turnover stood at $14.48 billion, a slight increase of 1.2 per cent against July. In the first eight months exports totaled $106.5 billion, up 9.2 per cent compared with the same period of 2014. Exports by the FDI sector reached $72.35 billion, an impressive increase of 21.2 per cent year-on-year.
Telephones and telephone components remained Vietnam’s key export items in the first eight months, with export value of $20.18 billion. Following was textiles and garments, with $14.88 billion, computers and electronic products $9.9 billion, footwear $7.95 billion, and machinery and components $5.17 billion.
Total imports in August, meanwhile, stood at $14.13 billion, down 4.3 per cent against July. Import turnover in the first eight months reached $110.26 billion, up 16.8 per cent year-on-year, with imports by the FDI sector totaling $64.89 billion, for an increase of 22.6 per cent.
Imports in the first eight months were led by machinery, with turnover of $18.54 billion, followed by computers and components with $15.19 billion, telephones and components $7.18 billion, fabric $6.66 billion, and steel $5.14 billion.
Vietnam therefore recorded a somewhat unexpected surplus in August of some $350 million, putting the trade deficit for this year at $3.7 billion as at the end of August.