As of late July, Viet Nam ran a record trade surplus of US$ 2.02 billion with G20 countries, which accounted for 2.7% of the country’s export turnover, according to the General Department of Customs.
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Turnovers of export, import, trade balance between Viet Nam and G20 countries in the first seven months of 2013-2016 period. Unit: US$ billion (Source: theGeneral Department of Customs) |
Total trade turnover between Viet Nam and G20 countries valued US$ 75.22 billionin the first seven months, postinga year-on-year growth of 3.6% and makingup 77% of total export volume.
Viet Nam chiefly exported telephones, spare parts, garments and textiles which made up 34% of total export turnover to the G20 countries.
Specifically, hard currency earners withincreased valueincludedtelephone and spare parts (up US$ 2.32 billion); computers and accessories (up US$ 1.04 billion); aquaculture (up US$ 715 million).
On the other hand, Viet Nam imported US$ 73.20 billion of goods from theG20 countries, representing a year-on-year decline of 1.7% and accounting for 77.3% of total import turnover.
Experts attributed the decline to lower import turnover of key commodities like machines and spare parts (down US$ 967 million); telephones and spare parts (down US$ 449 million); petrol (down US$ 387 million); steel (down US$ 14 million).
The trade balance shifted from deficit (nearly US$ 5.7 billion) in the first seven months of 2015 to surplus (about US$ 2.02 billion) in theJanuary-July period, 2016.
Out of theG20 countries, China continued to be the largest trade partner with US$ 38.18 billion of trade turnover (representing a year-on-year increase of 2.4%); followed by the U.S. with US$ 25.74 billion (up 10.6%); and the EU with US$ 24.87 billion (up 6.1%)./.