Vietnam FDI sector posts $1.57 bln first fortnight trade surplus

Foreign-invested enterprises in Vietnam recorded a trade surplus of $1.57 billion in the year to January 15, including crude oil, the General Statistics Office (GSO) reported Monday.

During this period, Vietnam earned export revenues of $15.08 billion, up 4.1% year-on-year; and recorded imports of $14.7 billion, up 6.8%, for a trade surplus of $380 million.

The total trade turnover of $29.78 billion marked a 5.4% year-on-year increase, the GSO said.

The domestic and FDI sectors posted exports of $4.02 billion and $11.06 billion - 26.7% and 73.3% of the total, respectively.

Vietnam’s top export earners were phones and components with $2.86 billion, up 6.7% year-on-year; computers, electronics, and components with $2.25 billion, up 22.1%; machines and equipment with $1.63 billion, down 4.6%; and apparel-textiles with $1.29 billion, down 17.8%.

Sector-wise, manufacturing-processing accounted for $13.35 billion, or 88.5% of the total; followed by farm produce and forestry goods with $1.3 billion, or 8.7%; fisheries with $318 million, or 2.1%; and fuels and minerals with $108 million, or 0.7%.

In import spending, the domestic and FDI sectors accounted for $5.22 billion and $9.48 billion, or 35.5% and 64.5% of the total, respectively.

Only two goods categories exceeded $1 billion in imports: computers, electronics, and components with $4.27 billion, up 9.2% year-on-year; and machines and equipment with $1.92 billion, up 15.2%.

At $13.83 billion, materials for production accounted for the biggest portion of imported goods (94.1%); while consumer goods made up $0.87 billion (5.9%).