TRADE SURPLUS EXPECTED TO SOAR SHARPLY IN THE LAST MONTHS OF THE YEAR

The total export and import turnover in the second half of September was $29.07 billion, and trade surplus was reported at $1.87 billion.

The General Department of Customs has just released its report on Vietnam's imports and exports in the second half of September.

Accordingly, the total import-export value reached $29.07 billion, up 17.9 per cent (equalling $4.42 billion) over the first half of the month.

This outcome has boosted the total import-export turnover in the first nine months of 2021 to $483.82 billion (up 24.6 per cent on-year, equivalent to $95.39 billion).

In the second half of September, trade surplus was $1.87 billion, contributing to reducing the trade deficit to $2.55 billion in the first nine months. Of this, total import-export turnover of the foreign-invested enterprises (FIEs) was $335.85 billion, an increase of 28 per cent on-year (equalling $73.48 billion); total value of local firms was $147.97 billion, a rise of 17.4 per cent on-year (equivalent to $21.9 billion).

Total export turnover in the second half of September was about $15.47 billion, an increase of 33.7 per cent (equalling $3.9 billion) over the first half. The sharp soar was contributed by such items as phones and components (increasing by $935 million or 39.3 per cent); computers, electronics, and components (rising by $813 million or 41.1 per cent); iron and steel items (rising by $426 million or 86.6 per cent); machinery, equipment, tools, and other spare parts (escalating by $292 million or 21.9 per cent).

Of this, FIEs' export turnover was $11.34 billion, up 33.2 per cent (equalling $2.83 billion) over the first half of the month, raising the total export value of this sector in the first nine months of the year to $176.57 billion, up 23.1 per cent on year (equivalent to $33.12 billion), capturing 73.4 per cent of total export turnover of the country.

In the first nine months of the year, the total export value of the country was $240.63 billion, an increase of 18.8 per cent on-year (equalling $38.09 billion).

On the opposite side, the total import value of the country in the second half of September was $13.6 billion, up 4 per cent ($520 million) over the first half of the month. Thus, in the first nine months of the year, total import value of the country was $243.18 billion, an increase of 30.8 per cent on-year (equivalent to $57.3 billion).

Of this, FIEs imported $9.53 billion in the second half of September, a raise of 7.9 per cent ($701 million) over the first half of the month. In the first nine months, total import value of this sector was $159.28 billion, up 33.9 per cent on-year ($40.36 billion), making up 65.5 per cent of the total import turnover of the country.

Source: VIR