Vietnam’s trade surplus at 22.44 billion USD in 11 months


Vietnam enjoyed a trade surplus of 24.44 billion USD as of November 15 this year, according to data released by the General Statistics Office (GSO).

The office reported that the total import-export turnover of goods hit 587.68 billion USD, down 9% year-over-year, with exports decreasing by 6.4% and imports dropping by 11.7% compared to the same period last year.

The domestic sector saw a trade deficit of 19.05 billion USD, and the foreign-invested sector (including crude oil) posted a trade surplus of 43.49 billion USD.

In the first 11 months, 33 products posted an export turnover of over 1 billion USD each, accounting for 92.9% of the country’s total. Particularly, seven commodities recorded an export turnover of more than 10 billion USD, accounting for 66.1%.

Deputy Minister of Industry and Trade Do Thang Hai said that the ministry will promote negotiations, sign new agreements, commitments, free trade agreements, and trade agreements with more potential partners in order to diversify markets, products
, and supply chains.

The ministry will support businesses to take advantage of commitments in new generation FTAs to boost exports; and coordinate with the Ministry of Agriculture and Rural Development to negotiate with the Chinese side to open the market for more Vietnamese fruit and vegetable products such as green-skinned grapefruit, fresh coconut, avocado, pineapple, star apple, and lemon.

It will also focus on strengthening early warning of trade defence lawsuits, giving them consultations on how to respond to lawsuits, and providing businesses and associations in a timely way with new market information, demand, and relevant regulations./.

Source: Vietnam News Agency

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