Vietnam recorded an estimated trade surplus of US$15.23 billion in the first seven months of 2023, up from the US$1.34 billion recorded in the same period last year, according to the General Statistics Office.

Between January and July, Vietnam’s import-export value edged down 13.9% over the year-ago period to US$374.23 billion. Of the amount, the country earned US$194.73 billion from exports, down 10.6%, and spent US$179.5 billion importing goods, down 17.1% year-on-year.

During the seven-month period, 30 items registered export revenue of over US$1 billion each, accounting for 91.6% of the total export value. Among those, five posted export value of above US$10 billion, making up 57.6%.

Regarding the import commodity structure, input materials recorded an import value of US$168.3 billion, representing 93.8% of total imports. Among those, machinery, equipment, and spare parts accounted for 43.9%, while raw materials amounted to 49.9%.

The U.S. was Vietnam’s largest importer from January to July, having spent an estimated US$52.4 billion on Vietnamese goods. Meanwhile, China was the country’s largest supplier, with a total value of US$58.6 billion.

Vietnam posted a trade surplus of US$44.3 billion with the U.S. in the first seven months of 2023, up 24.1% year-on-year, while reporting a trade deficit of US$27 billion with China, down 35.3% against the year-ago period.

The Saigon Times