Fri. May 24th, 2024

Rising exports help boost trade surplus

HCM CITY (VNS)— Viet Nam achieved a significant trade surplus in the period from January 1 to February 15, according to figures from the General Department of Customs.

Viet Nam enjoyed a trade surplus of nearly US$1.4 billion in the period, including a surplus of $774.6 million attained in January, followed by $614.4 million in the first half of February.

This was a good sign, considering the trade deficit was $538.7 million during the same period in 2012, the Government’s website said, citing figures from the General Customs Bureau.

The sharp increases in the country’s total exports, up to 29.1 per cent, were the chief reasons behind the higher trade surplus Viet Nam enjoyed in the period.

Foreign-invested enterprises scored a 33 per cent growth in export turnover and domestic enterprises a 23.3 per cent growth compared with the same period last year.

Products attaining high growth rates in export turnover included pepper; cassava and cassava products; hats and umbrellas; timber and wooden products; textiles and garments; steel; computers; electronics and components; telephones and components; and means of transport; and spare parts.

Twenty-three products attained export turnover of $100 million each, including 10 with export turnover of $50 million each.

The textile and garment sector took the lead in attaining high export turnover with over $2.1 billion; followed by telephones and components with nearly $1.95 billion, and electronics and components with export turnover of nearly $1.1 billion.

During the same period, Viet Nam attained export turnover of over $100 million to 25 countries and territories, including the US with nearly $2.03 billion; Japan with $1.18 billion; China with over $1.17 billion; South Korea with $625.4 million; Germany with $483.2 million; Malaysia with $451.7 million; and UK with $369.4 million.

Viet Nam enjoyed a trade surplus with 53 of its 89 major overseas markets, with a surplus of over $100 million to each of 13 countries, including the US with over $1.6 billion; the UK with nearly $314 million; Japan with nearly $304 million; and Hong Kong of China with $215 million.

The high trade surplus in the first half of the first quarter of 2013 was a “good sign” for Viet Nam’s export growth this year. It will help create conditions for the country to increase its foreign currency reserves, the Government’s website said. — VNS

By vivian