Vietnam enjoys trade surplus of US$520 million over five months
VOV.VN - Vietnam produced an estimated export surplus of US$520 million in the past five months, an impressive figure that shows the country’s economy is gathering steam and its foreign trade is up and running from the impact of the COVID-19 pandemic.
It’s noteworthy that the economy endured an import surplus of up to US$1.2 billion between January and May 2021.
In fact, the country’s trade deficit soared to a record high of US$1.73 billion in May 2022, but an export surplus of US$2.25 billion obtained in January – April help the national economy secure trade surplus in five months.
The General Statistics Office (GSO) reported on May 29 that Vietnam earned US$30.48 billion from export in May, a month-on-month fall of 8.5%. However, its five-month exports fetched US$152.81 billion, an increase of 16.3% year on year.
There are 26 export commodities that raked in more than US$1 billion each. Of them, five groups of commodities that attained an export value of more than US$5 billion each, are electronics, computers and components; machinery and equipment; phones and spare parts; garments; plastics; and iron-steel.
Also according to the GSO, the index of industrial production (IIP) in May 2022 increased by 4% over the previous month and by 10.4% over the same period last year. Overall, the past five months saw the IIP rise by 8.3% compared to the same period last year.