Vietnam's merchandise trade balance in the first eight months of 2023 had a surplus of $20.19 billion.

DNHN - In the first eight months of 2023, Vietnam's merchandise trade balance had a surplus of $20.19 billion.

According to newly released data from the General Statistics Office, the total import and export turnover of goods in August 2023 was estimated at 60.92 billion USD, an increase of 6.7% over the previous month and a decrease of 7.0% compared to the same month last year.

In the first eight months of 2023, the estimated total import and export turnover of goods was USD 435.23 billion, a decrease of 13.1% compared to the same period in 2022.

Regarding commodity exports, the export turnover of goods in August 2023 was estimated at 32.37 billion USD, an increase of 7.7% from the previous month and a decrease of 7.7% from the same period in 2022. The estimated export turnover for the first eight months of this year is 227.71 billion USD, a 10% decrease from the same period last year.

August 2023 import volume was estimated at 28.55 billion USD, up 5.7% from the previous month and down 8.2% from the same month the previous year. In the first eight months of 2023, it was estimated that the import turnover of goods was valued at US$207.52 billion, a 16.2% decrease from the same period in 2022.

In terms of export and import markets for goods in the first eight months of 2023, the United States is Vietnam's largest export market, with an estimated $62.3 billion in turnover. China is Vietnam's largest import market, with an estimated 68.1 billion USD in annual sales.

In August 2023, the balance of trade in goods is projected to have a surplus of USD 3.82 billion. In the first eight months of 2023, the trade balance of goods is projected to have a surplus of USD 20.19 billion (compared to a surplus of USD 5.26 billion in the same period of the previous year).

The domestic economic sector had a trade deficit of USD 14.02 billion, while the FDI sector (including crude oil) had a surplus of USD 34.21 billion.

P.V