Vietnam posts trade surplus of US$2.78 billion in Jan-Apr amid global lockdown

Vietnam posted a trade surplus of US$2.78 billion in the first four months of 2020, significantly lower than a surplus of US$3.74 billion recorded one month earlier, according to the General Department of Vietnam Customs (GDVC).

Illustrative photo.

The government-run General Statistics Office last month estimated a trade surplus of US$3 billion for the four-month period.

In April, the country's trade turnover declined 22% month-on-month to US$36.1 billion, according to the customs department. Of the total, exports stood at US$17.63 billion and imports of US$18.59 billion, resulting in a trade deficit of US$960 million.

Revenue of some of Vietnam’s major export staples soared in the second half of April compared to the first half. They included computers, electronic devices and parts with an increase of 9.8% year-on-year; textile, up 18%; machinery, equipment and parts, up 14.4%.

In the January-April period, the country’s external trade rose 0.9% year-on-year to US$158.9 billion. Upon breaking down, exports totaled US$80.86 billion, up 2% year-on-year, and imports reached US$78.08 billion, down 0.3%.

Foreign-invested companies recorded a trade value of US$98.51 billion during the period, down 1.5% year-on-year. This included $53.57 billion in exports, down 2.5% year-on-year, accounting for 66.2% of Vietnam’s export turnover; and US$45 billion in imports, down 0.2% and making up 57.6% of total imports.

As such, they posted a trade surplus of US$8.57 billion.

Meanwhile, the domestic-invested sector recorded a trade value of US$60.43 billion, or 38% of Vietnam’s total trade volume, up 5% year-on-year.