Vietnam records trade surplus over two months

HANOI, March 1 (Xinhua): Vietnam recorded export turnovers of nearly US$48.6 billion and import turnovers of roughly US$47.3 billion in the first two months of this year, with a trade surplus of around US$1.3 billion, according to the General Statistics Office on Monday.

The export and import revenues respectively rose 23.2 per cent and 25.9 per cent year on year, said the office.

Specifically, Vietnam gained US$9.3 billion from exporting phones and components, up 22.8 per cent; US$6.9 billion from electronic goods, computers and components, up 27.3 per cent; and US$4.8 billion from garments and textiles, down 0.01 per cent.

The United States remained Vietnam's biggest importer with turnovers of US$14.2 billion, tailed by China with US$8.5 billion and the European Union with US$6.3 billion, said the office.

In the same period, Vietnam spent US$10.9 billion importing electronic goods, computers and components, up 23.9 per cent and accounting for 23 percent of total import turnovers; US$6.8 billion on machines, equipment and spare parts, up 30.8 percent, and US$3.6 billion on phones and components, up 74.6 per cent.

Meanwhile, China was Vietnam's largest exporter with turnovers of US$17.3 billion, followed by South Korea with US$8.4 billion and the Association of South-East Asian Nations (Asean) with US$5.6 billion, according to the office.

The Vietnamese manufacturing sector ended February with modest improvement in business conditions, supported by growth in new orders, output and employment, a report compiled by the London-based global information provider IHS Markit revealed on Monday.

Meanwhile, the Vietnam Manufacturing Purchasing Managers' Index (PMI) went up to 51.6 in February from 51.3 in January, signaling a modest improvement in business conditions. The health of the sector has now strengthened in three successive months, according to the report.

The sustained growth of new orders was recorded, helping to drive the improvement in overall business conditions.

Total new orders were supported by a return to growth of new export business amid some signs of improving international demand. Rising new orders was also the main factor behind the renewed increases in output, read the report.

Meanwhile, employment increased for the second time in three months as firms responded to rises in demand and production requirements. - Vietnam
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Vietnam , Records , Trade , Surplus , Jan , Feb


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