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Vietnam achieves trade surplus of $1.64 billion in the first two months

March 17, 2021 | 14:26

Vietnam’s export turnover in the second half of February reached more than US$10.2 billion, up nearly 3% compared to the first half, raising the total export turnover in the first two months of the year to over $48.7 billion, increasing by almost 24%.

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A container ship docks at Cat Lai Port in Ho Chi Minh City. Photo by Shutterstock/Xuanhuongho.

Vietnam’s export turnover in the second half of February reached $10.23 billion, up nearly 3% compared to the first half, raising the total export turnover in the first two months of the year to over $48.7 billion, a year-on-year increase of almost 24%, according to the data released by the General Department of Customs.

Several goods enjoying a sharp increase in export turnover including phones and components (up by $201 million), iron and steel (up by $179 million), computers, electronic products, and components (up by $157 million), CafeF reported.

In the second half of February, the export turnover of the FDI sector stood at $7.91 billion, increasing by over 5% compared to the first half, lifting the total export turnover in February to over $37 billion, rising by more than 32% and accounting for nearly 76% of the country’s total export value.

Meanwhile, the import turnover in the second half of February was nearly US$11.4 billion, up 23% compared to the first half, raising the total import turnover in the first two months to more than $ 47.1 billion, a year-on-year increase of nearly 26%.

Several items with the sharp increase in import turnover including machinery, equipment, tools, and spare parts (up by $299 million), plastic materials (up by $177 million), electronic products and components (up by $164 million).

The FDI sector posted an import turnover of more than US$7.5 billion in the second half of February, up 18% compared to the first half. The total import turnover in February was over $31.5 billion, increasing by more than 30% and accounting for nearly 67% of the country’s total import value.

In general, Vietnam’s total import-export turnover in the second half of February reached $21.6 billion, up 12.6% against the first half. The total import-export turnover in the whole month stood at $95.85 billion, representing a year-on-year increase of 24%. Thus, the country racked up a trade surplus of $1.64 billion in the first two months of the year.

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Malie Nguyen