Vietnam Q1 Trade Surplus Up at $809 million

Vietnam recorded a trade surplus of $809 million in the first quarter of the year as the year began with a sharp increase in both exports and imports.

Products shipped out of the country during January to March was worth $88.58 billion, 12.9 percent more than last year, the General Statistics Office (GSO) said in a report.

Imports also increased 15.9 percent to $87.77 billion, translating into an $809 million surplus.

March alone saw 14.8 percent more exports than last year at $34.06 billion and 14.6 percent more imports at $32.67 billion, translating into a monthly trade surplus of $1.39 billion, according to GSO.

Vietnam’s gross domestic product grew 5.03 percent during the same period as the country relaxed COVID-19 restrictions and reopened more of its economy, GSO General Director Nguyen Thi Huong told local reporters.

“Vietnam gained fairly good growth in the first quarter despite the complicated evolvement of the COVID-19 pandemic… and global geopolitical uncertainty,” GSO’s report read.

© Fourth Estate® — All Rights Reserved.
This material may not be published, broadcast, rewritten or redistributed.