With a record trade surplus of 9.12 billion USD over the first 11 months and year-on-year export growth of 7.8 percent, experts believe that 2019 will be the fourth straight year Vietnam will post a trade surplus.
Hanoi’s export turnover exceeded 15 billion USD in the first 11 months of 2019, a year-on-year surge of 18.4 percent.
Vietnam’s textile and garment industry is estimated to grow about 7.55 percent this year, according to President of the Vietnam Textile and Apprarel Association (VITAS) Vu Duc Giang.
Vietnam’s foreign trade is forecast to hit 500 billion USD at the end of 2019, according to the General Statistics Office of Vietnam.
For the eleven-month period, the mining industry growth declined by 21.9% year-on-year while manufacturing and processing was up 8.3%.
Within the first 11 months of 2019, Vietnam attracted over 31 billion USD in FDI, up 3.1 percent compared to the same period in 2018.
The country lured US$31.8 billion in foreign direct investment (FDI) in the first 11 months of 2019, up 3 per cent year-on-year, according to the Foreign Investment Agency (FIA).
Vietnam‘s trade-in-goods in the first 9 months of 2019 totaled US dollars 382.16 billion in value terms, climbed up by 8.4% as compared to the performance of the same period of last year.
The Vietnam Customs Statistics announced that in the first half (01-15/9/2019) of September-2019 , Vietnam’s total exports of US dollars 10.45 billion and imports of US dollars 10.26 billion resulted in a trade surplus of nearly US dollars 189 million.
According to trade statistics of Vietnam Customs, in September 2019, a 6.7% reduction in total external merchandise turnover of Vietnam was recorded on a month-on-month basis. Exports went down 9.8 %, to USD 23.36 billion and imports shrunk 3.1%, to USD 21.75 billion as compared to the result of August 2019. As a result, there was a USD 1.61 billion surplus in Vietnam’s trade balance in this month.
Vietnam’s total import-export turnover has surpassed 400 billion USD, according to the General Department of Customs.