Trade surplus estimated at US$2.7 billion in six months

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In the first six months, Vietnam enjoyed a trade surplus of US$2.7 billion and saw 20 commodities earning export value of over US$1 billion each, according to a meeting by the Ministry of Trade and Industry in Hanoi on July 9.

Coffee price falls 14.2 percent.

Coffee price falls 14.2 percent.

Of which trade surplus of the foreign direct investment sector (including crude oil) was US$ 15.56 billion; foreign direct investment sector (excluding crude oil) notched a trade surplus of US$14.6 billion; trade deficit of the domestic economic sector was US$ 12.9 billion.
The country’s export turnover gained US$113.93 billion in the first half of this year, presenting a year-on-year increase of 16 percent and accounting for 48 percent of this year’s target.
The export turnover of the State-owned enterprises was estimated at US$33.1 billion, increasing 19.9 percent compared with the same period last year. Meanwhile the export turnover of the area of foreign-invested enterprise reached US$80.9 billion, rose 14.5 percent.
Director General of the ministry's Planning Department Duong Duy Hung said that there were 20 export products with turnover exceeding one billion US dollars. Export commodities with big turnover include phones and phone components with US$22.5 billion; computers, electronics and accessories with US$13.45 billion; textiles and garment with US$13.42 billion; machinery and components with US$7.8 billion; and footwear with US$7.8 billion.
The prices of several agricultural commodities have seen a sharply decrease, such as coffee price down 14.2 percent, pepper by 39.3 percent; rubber by 21.3 percent. Exports of mineral products has decreased by 10.8 percent. The export turnover of agriculture, forestry, and fishery products were estimated at US$860 million.
The import turnover in the first six months of 2018 reached US$ 111.22 billion, up 10 percent compared to the same period in 2017. In which, the turnover of the domestic economic sector reached US$46 billion, increasing by 12.9 percent; the foreign direct investment sector gained US$65.21 billion, , increasing by 8.1 percent.

By PHUC HAU – Translated by Kim Khanh

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