Vietnam enjoys US$1 billion in trade surplus in May

Vietnam produced trade surplus worth roughly US$1 billion in May, thus raising the country’s five-month surplus to over US$3.5 billion, the General Department of Customs reported.

vietnam enjoys us 1 billion in trade surplus in may

Computers, electronic products and components are among the groups of the country’s top hard currency earners

The department’s preliminary data showed Vietnam earned US$19.19 billion from exports in May alone, up 9.1% compared to May 2019, and imported US$18.18 billion worth of commodities, down 0.9%.

Meanwhile, the first five months of the year saw Vietnamese export value fall 0.9% compared to the same period last year to nearly US$100.21 billion, and the import value decline 4.6% to US$96.67 billion.

However, exports to Vietnam’s major markets all increased considerably, including China (up US$2.43 billion), the US (up US$700 million), the EU (up US$502 million) and ASEAN (up US$22.8 million).

Worthy of note is that in the review period 5 groups of export commodities that earned turnover of more than US$1 billion each include computers, electronic products and components; phones and accessories; garments and textile; machinery, equipment and spare parts; and footwear.

The May figures showed the export market has begun to pick up in the context of the novel coronavirus being gradually brought under control in a number of markets.

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