Trade surplus estimated at US$1 billion in July

SGGP
The trade balance of goods in July is estimated to have a trade surplus of US$1 billion. In the first seven months of this year, the trade balance saw a trade surplus of $6.5 billion, of which, the domestic economic sector had a trade deficit of $11.1 billion, and the foreign-invested sector, including crude oil, recorded a trade surplus of $17.6 billion.
According to the national statistics office, the export turnover of goods is estimated at $23 billion in July, up 1.9 percent compared to last month. Of which, the domestic economic sector is estimated to reach $8.5 billion, up 2.6 percent, and the foreign-invested sector, including crude oil, $14.5 billion, up 1.5 percent.

In comparison with the same period last year, export turnover in July slightly increased by 0.3 percent. Of which, the domestic economic sector surged 10.6 percent while the foreign-invested sector slid 4.9 percent. 

In the first seven months of this year, the export turnover of goods is estimated at $145.79 billion, up 0.2 percent over the same period last year. Of which, the domestic economic sector continues to be the highlight with export turnover is estimated at $50.76 billion, up 13.5 percent while the foreign-invested sector reaches $95.03 billion, accounting for 65.2 percent of total export turnover, down 5.7 percent.

In the first seven months, there were 23 items with export turnover of over $1 billion, accounting for 87 percent of total export turnover. Of which, the highest is phones and components with $25.7 billion, however, this is a decrease of 6.6 percent over the same period last year. Electronics, computers, and components followed with $23.1 billion, up 24.3 percent, tagged along by textiles and garments with $16.2 billion, down 12.1 percent, machinery, equipment, and spare parts with $12.4 billion, up 27.1 percent, and footwear with $9.5 billion, down 7.9 percent. Exports of most agricultural products decreased compared to the same period last year.

On the contrary, import turnover was estimated to reach $22 billion in July, up 62 percent compared to last month. Of which, the domestic economic sector imported $10.2 billion, up 5.9 percent, and the foreign-invested sector $11.8 billion, up 6.5 percent.

In the first seven months of this year, import turnover of goods was estimated at $139.33 billion, decreasing by 2.9 percent compared to the same period last year, of which the domestic economic sector got $61.86 billion, increasing by 1.5 percent and the foreign-invested sector reached $77.47 billion, down 6.2 percent.

In the first seven months, there were 25 items with the import turnover of over $1 billion, accounting for 83.6 percent of the total import turnover, most of which dropped sharply over the same period last year. Particularly, the automobile imports reached $2.9 billion, a decrease of up to 32.6 percent; raw materials for textile, garment, and footwear imports reached $2.9 billion, down 15.5 percent.

By Anh Phuong – Translated by Thanh Nha

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