Vietnam projected to record trade surplus of US$2-3 billion in 2018

ABO/NDO - The Ministry of Industry and Trade (MOIT) expects Vietnam to record a trade surplus of US$2-3 billion in 2018, on the foundation of a US$6.42 billion surplus already reported in the first ten months of the year.

Vietnam's exports this year could reach US$239-240 billion. (Photo: VNA)

Data recently released by the MOIT shows that Vietnam exported US$20.8 billion worth of goods in October, while importing US$20.7 billion, producing a surplus of US$100 million.

Exports in October fell 1.5% against the previous month due to a sharp decline of 21.4% in phones and phone parts, which brought in an estimated US$4 billion.

 

However, respectable growth was maintained in certain other goods such as computers, electronic products, machinery and footwear.

 

On aggregate, exports in the January-October period were estimated at US$200.3 billion, while imports were US$193.84 billion.

 

The MOIT stated that Vietnam’s export revenues have now reached 84.6% of the target for 2018, adding that exports this year could grow by 10-12% to US$239-240 billion.

 

Last year, Vietnam registered a trade surplus of US$2.7 billion.

 

(Source: NDO)