Import-exports to go up by 13%

Of the figure, the export value is likely to reach US$113.93 billion since the beginning of this year, up 16% against the same period last year, while import value is calculated at US$111.36 billion, a rise of 10.2%.

As a result, Vietnam will run a trade surplus of US$2.57 billion in the first half of the year.

In January-June, the country hopes to gross US$22.5 billion from exporting mobile phones and spare parts (up 15.4%) as well as US$13.42 billion from garment-textile (up 13.8%), nearly US$13.46 billion from computers, electronic products and components (up 15.7%), and US$3.96 billion from aquatic products (up 11%).

Also in the reviewed period, imports of computers, electronic products and spare parts are estimated at US$19.7 billion (up 14.3%), machinery, equipment and components US$16.15 billion (down 7.3%), mobile phones and spare parts US$5.97 billion (down 4.4%), and fabric US$6.43 billion (up 17.1%).

Vietnam’s trade surplus hit a record high of US$2.92 billion in 2017, according the Ministry of Industry and Trade.

The country had 29 groups of items whose export revenue exceeded US$1 billion, 20 groups with export turnover of above US$2 billon and eight groups with export value of more than US$6 billion. 

2017 was considered a good year for Vietnam with its exports crossing the US$200 billon mark for the first time and ending at US$214.02 billion, a year-on-year increase of 21.2% and well above the Government’s target.