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Jan-Oct trade surplus hits new record
Friday,  10/30/2020, 07:20 

Jan-Oct trade surplus hits new record

The Saigon Times

A vessel fully loaded with containers is seen at the Saigon Premiere Container Terminal in HCMC. Vietnam enjoyed a trade surplus of US$18.72 billion from January to October 2020 - PHOTO: LE ANH

HCMC - Despite the complicated developments of Covid-19 worldwide, Vietnam’s trade has grown, with the significant contribution of domestic enterprises, boasting an all-time high trade surplus of US$18.72 billion in the January-October period, according to the General Statistics Office.

In the ten-month period, the country exported products worth US$229.27 billion and spent US$210.55 billion on imports, up 4.7% and 0.4%, respectively, over the same period last year.

There were 31 commodities whose export value surpassed US$1 billion each, including five product groups with export revenue amounting to more than US$10 billion each.

The nation's biggest export earners in the period included phones and phone parts (US$42 billion); computers, electronic products and accessories (US$36.2 billion) and textiles and garments (US$24.8 billion).

Meanwhile, the country spent the most on computers, electronic products and accessories (US$51.3 billion); machinery, equipment, tools and machine parts (US$29.8 billion) and phones and phone parts (US$12.6 billion).

The United States was Vietnam’s biggest importer in January-October, spending US$62.3 billion on Vietnamese goods, up 24% year-on-year, followed by China with US$37.6 billion, up 14% and the European Union with US$28.9 billion, down 3%.

China was Vietnam’s largest supplier, selling goods worth US$65.8 billion to Vietnam, up 6.2% year-on-year, followed by South Korea with US$37.4 billion, down 5.3% and ASEAN with US$24.4 billion, down 8.5%.

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