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Vietnam's trade surplus exceeds 3.3 billion dollars in 10 months: customs

Xinhua, November 18, 2016 Adjust font size:

Vietnam recorded a trade surplus of over 3.3 billion U.S. dollars from January to October 2016 with foreign direct investment (FDI) companies continuing to outweigh domestic firms in export revenue, according to the General Department of Vietnam Customs on Friday.

Vietnam's total trade turnover exceeded 284.5 billion U.S. dollars during the period, including 143.9 billion U.S. dollars in exports, a year-on-year increase of about 7 percent.

In October alone, the country raked in more than 15.4 billion U.S. dollars from overseas shipments, down 0.1 percent from the previous month, nearly 11 billion U.S. dollars of which was earned from export activities of FDI enterprises, up 0.3 percent from September.

Phones and components topped the list of export commodities in October with revenue of over 2.83 billion U.S. dollars, down 2.6 percent over the previous month. They were followed by textile and garment products with more than 1.9 billion U.S. dollars in turnover, dropping by 10.7 percent.

Computers, electronic products and components ranked third with a monthly export revenue increase of 10 percent, according to Vietnam Customs.

The U.S. remained the biggest market Vietnamese goods in October with over 3.26 billion U.S. dollars, bringing 10-month exports to the country to 31.55 billon U.S. dollars.

The respective figures for China, the second biggest importer, were 2.2 billion U.S. dollars and 17.3 billion U.S. dollars.

Vietnam Customs said the country imported more than 140.65 billion U.S. dollars of commodities in the first 10 months of 2016, including 15.84 billion U.S. dollars in October.

Imports by FDI firms reached some 9.5 billion U.S. dollars in October, rising by 7.7 percent from the previous month.

Computers, electronic products and components were the goods with the biggest import turnover, 2.7 billion U.S. dollars. Machinery, equipment and spare parts were second with 2.38 billion U.S. dollars.

China continued to be the biggest exporter of goods to Vietnam, with revenue of 4.3 billion U.S. dollars in October, bringing 10-month imports to more than 40.2 billion U.S. dollars, said Vietnam Customs. Enditem