Vietnam runs trade surplus of US$8.08 billion in Q1

Vietnam recorded a trade surplus of US$8.08 billion in the first quarter of the year, almost double that of last year’s corresponding period, according to information provided by the General Statistics Office (GSO).

In the reviewed period, the country’s total import-export turnover stood at an estimated US$178.04 billion, up 15.5% year on year.

Specifically, the export value hit US$93.06 billion, marking an annual increase of 17%. Processed industrial goods accounted for nearly 88.1% of the total export turnover, estimated at US$82.02 billion.

Vietnam also spent US$84.98 billion on imports, up 13.9% against the same period last year. Most imports were materials for production, worth US$79.9 billion, equivalent to 94%.

The United States was Vietnam’s largest export market in the period, with an estimated turnover of US$26.2 billion. Meanwhile, China was the country’s biggest import market, with an estimated turnover of US$29.4 billion.