Data from the General Statistics Office of Vietnam shows that from the beginning of the year until the end of August, Vietnam’s trade surplus with the United States reached approximately 68.1 billion USD, an increase of 28.6% year-on-year; the trade surplus with the European Union reached 23.6 billion USD, an increase of 22% year-on-year; the trade surplus with Japan reached 1.7 billion USD, an increase of 30.5% year-on-year.
Meanwhile, Vietnam’s trade deficit with China reached 54.4 billion USD, an increase of 69.6% year-on-year; the trade deficit with South Korea reached 20 billion USD, an increase of 12.1% year-on-year; and the trade deficit with ASEAN reached 5.8 billion USD, an increase of 14.8% year-on-year.
Export
In the first eight months of this year, the United States was Vietnam’s largest export market. Vietnam’s total exports to this market reached 77.9 billion USD, an increase of 25.4% year-on-year. China was the second-largest market, with exports reaching 37.9 billion USD, an increase of 2.8% year-on-year. Following were the European Union, with exports totaling 34.4 billion USD, an increase of 18.5% year-on-year. ASEAN was the fourth-largest export market for Vietnamese goods, with exports totaling 24.5 billion USD, an increase of 11.9% year-on-year, followed by South Korea and Japan in fifth and sixth places.
In the first eight months of this year, Vietnam’s total exports to the six markets of the United States, China, the European Union, ASEAN, South Korea, and Japan reached 207.7 billion USD, accounting for 78% of the country’s total merchandise exports.
Import
Regarding imports, in the first eight months of this year, Vietnam’s total imports from these six markets reached 194.5 billion USD, accounting for 79% of the country’s total merchandise imports. Of this, Vietnam imported 92.3 billion USD worth of goods from China, an increase of 33.9% year-on-year; 36.9 billion USD was spent on importing goods from South Korea, an increase of 10.3% year-on-year. ASEAN was Vietnam’s third-largest import market, with imports totaling 30.3 billion USD, followed by Japan and the European Union.
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