According to the General Statistics Office, the trade balance of goods in the first eight months of 2019 was estimated to have a trade surplus of $3.4 billion, of which a trade surplus in August alone is $1.7 billion, equivalent to the trade surplus of the first seven months of May. 2019, thanks to the contribution of the group of phones and components.

Specifically, the export turnover of goods in August 2019 was estimated at 24.5 billion USD, up 6.6% over the previous month. In the first eight months of 2019, export turnover was estimated at USD 169.98 billion, up 7.3% over the same period in 2018.

In 8 months, there were 26 items with export value of over 1 billion USD, accounting for 89.5% of total export turnover (5 items with value over 10 billion USD, accounting for 58.7%).

Regarding the export goods market in the first eight months of 2019, the United States is Vietnam’s largest export market with a turnover of 38.6 billion USD, up 25.3% over the same period last year; followed by the EU market with USD 27.7 billion, down 0.5%; China reached 23.8 billion USD, down 2.5%; ASEAN market reached 17.3 billion USD, up 3.6%;…

Import turnover of goods in August was estimated at 22.8 billion USD, down 0.6% compared to the previous month. Generally, for the first eight months of 2019, import turnover of goods was estimated at US$166.58 billion, up 8.5% over the same period in 2018, of which the domestic economic sector gained US$70.43 billion, up 13.9%; FDI sector reached 96.15 billion USD, up 4.8%.

In the first 7 months of 2019, the trade surplus was 1.7 billion USD; August 2019 is estimated to have a trade surplus of 1.7 billion USD. Generally, in the first eight months of 2019, trade surplus was estimated at USD 3.4 billion.

Pham Tat Thang – Former Director of the Information Center for Industry and Trade (Ministry of Industry and Trade) said that with the results achieved, it can be completely trusted in the last months of the year. , import and export of goods and services is still in a good direction, especially when free trade agreements (FTAs) continue to take effect.

However, exports are still facing a number of concerns such as a number of traditional commodities whose turnover has decreased such as rice, coal, crude oil… Export turnover of enterprises with 100% domestic capital despite having some growth rate in the first 6 months is high, higher than FDI sector but still not enough. Therefore, businesses need to take advantage of incentives from signed FTAs, pay attention to confirm the origin of goods to enjoy preferential tariffs according to signed commitments.