Vietnam posts trade surplus of nearly US$1 billion in first half of March despite COVID-19 epidemic

Vietnam’s import-export revenue from early this year to mid-March is estimated at US$50.3 billion, up 7% over the same period in 2019, and trade surplus is estimated at US$2.74 billion.

Phones and components continue to record the highest export revenue for the three-month period, totalling over US$10.2 billion, up 8.5% over the same period in 2019.

Meanwhile, computers, electronic products and components posted highest import revenue during the reviewed period, at US$11.03 billion, an increase of 15% over the same period last year.

The results demonstrate the efforts of the government and business community in maintaining the stability of foreign trade activities amid the difficulties caused by the COVID-19 epidemic.

The Ministry of Industry and Trade said that Vietnam’s import-export activities are forecast to encounter many difficulties in the short-term due to the spreading of the epidemic amongst Vietnam’s leading trade partners, including Japan and the Republic of Korea.

The ministry said that in the case of a prolonged epidemic, the export growth target for the whole of 2020 will be affected.