Vietnam posts trade surplus of $14.08 bn in 7 months

HANOI: Vietnam saw a trade surplus of $14.08 billion in the first seven months of this year, the General Statistics Office said on Monday.

The office reported that during the cited period, total import-export turnover of goods hit $439.88 billion, up 17.1 per cent year-on-year, with exports increasing 15.7 per cent and imports surging 18.5 per cent compared to the same period last year, Xinhua news agency reported.

The domestic sector saw a trade deficit of $14.92 billion, and the foreign-invested sector (including crude oil) posted a trade surplus of $29 billion.

China was Vietnam's largest import market for the cited period with a turnover estimated at $79.2 billion, the report said.

The export revenue of Vietnam's industrial processing sector reached $199.94 billion in the seven months, accounting for 88.1 per cent of the total, according to the office.