Foreign invested enterprises hit trade surplus of US$17.6 billion in the first 10 months
By Anh Nguyen
November 01, 2017 | 06:47 AM GMT+7
The foreign-invested sector’s trade surplus hit US$17.63 billion while Vietnam’s domestic enterprises posted a trade deficit of US$16.40 billion in the first 10 months of this year.
Phones and components exports contribute most to total export turnover of the nation in October.
The General Statistic Office of Vietnam (GSO) estimated that the export value in October 2017 was US$19.4 billion, 0.3 per cent higher than in September, with the figures for domestic and foreign invested sectors being US$5.2 billion and US$14.2 billion.
In the first 10 months of this year, export turnover was estimated at US$173.7 billion, 20.7 per cent higher than the same period last year. The domestic economic sector gained US$48.2 billion of export turnover, 17.2 per cent increase year-on-year while foreign investment, including in crude oil, reached US$125.5 billion, an increase of 22.1 per cent y-o-y.
The export turnover of some outsourced and assembled products increased significantly y-o-y. (source: GSO)
The trade deficit in first ten months of 2017 increased by 22 per cent y-o-y to reach US$172.5 billion, with the main imported items being computers, electronic products and spare parts.
China has remained Vietnam’s biggest export market since the beginning of this year when the trade surplus gained from this market increased 16.7 per cent y-o-y.
Vietnam is expected to enjoy a trade surplus of US$900 million, pushing the total trade surplus of the country in first 10 months of 2017 to US$1.23 billion.
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