Making news

Vietnam enjoys trade surplus of 3.04 bln USD in first four months

Vietnam recorded a trade surplus of 3.04 billion USD in the first four months of 2020 despite the negative impacts caused by the COVID-19 pandemic, according to the Ministry of Industry and Trade (MoIT).

During the Jan-April period, the country’s export turnover totalled 82.94 billion USD, up 4.7 percent year-on-year.

Commodities with strong growth in export value in the reviewed period included machinery, equipment, tools and spare parts (29.6 percent); computers, electronic products and components (28.6 percent); wood and wooden products (10.1 percent), footwear (1.3 percent), and telephones and components (1.1 percent).

The US remained the largest market for Vietnamese exports in the reviewed period, with a 20.3-billion-USD turnover, surging 13.4 percent. It was followed by China and Japan with respective turnovers of 13.1 billion USD and 6.7 billion USD, up 26.7 percent and 10.1 percent.

Meanwhile, imports reached 79.89 billion USD in the period, up 2.1 percent against the same period last year.

The ministry said after reaching positive growth in the first quarter, Vietnam's trade activities in April began to be strongly affected by the pandemic. Export turnover in April reached only 19.7 billion USD, down 18.4 percent from the previous month and 3.5 percent year-on-year.

However it predicted that Vietnam’s export value will increase again in the second half of this year if the epidemic is controlled in the second quarter.

The ministry will continue to give priority to promoting trade connections between Vietnamese enterprises and foreign partners, and the introduction of made-in-Vietnam goods to domestic and international consumers. /