Trade surplus rebounds in September after nine months of deficit

Total merchandise trade turnover reached US$117.69 billion in September, up 7.3 percent month-on-month and 42.4 percent year-on-year.

However, the cumulative trade balance for the first nine months remained in deficit, at US$19.42 billion, as imports continued to grow faster than exports.

Exports reached US$59.48 billion in September, up 8.5 percent from the previous month and 39.1 percent year-on-year.

In the third quarter, export turnover hit US$167.85 billion, representing a year-on-year increase of 30.4 percent and a 17 percent rise from the second quarter.

In the first nine months, Viet Nam exported goods worth US$434.30 billion, up 24.5 percent year-on-year. The domestic economic sector contributed US$83.89 billion, up 7.5 percent and accounting for 19.3 percent of total exports, while the foreign-invested sector, including crude oil, generated US$350.41 billion, up 29.4 percent and accounting for 80.7 percent.

A total of 35 export items posted turnover of more than US$1 billion each, collectively accounting for 94.3 percent of total exports. Seven items recorded export turnover of more than US$10 billion each, making up 70.7 percent of the total.

Manufactured and processed industrial goods remained the mainstay of exports, generating US$392.79 billion, or 90.4 percent of total export turnover. Agricultural and forestry products followed with US$30 billion, accounting for 6.9 percent; seafood with US$9.10 billion, or 2.1 percent; and fuels and minerals with US$2.41 billion, or 0.6 percent.

Imports reached US$58.21 billion in September, up 6 percent month-on-month and 45.8 percent year-on-year.

In the third quarter, import turnover totaled US$170.33 billion, up 42.2 percent year-on-year and 8.8 percent from the second quarter.

For the first nine months, imports stood at US$453.72 billion, up 36.7 percent year-on-year. The domestic economic sector accounted for US$118.17 billion, up 23.5 percent, while the foreign-invested sector contributed US$335.55 billion, up 42 percent.

Forty-five import items recorded turnover of more than US$1 billion each, accounting for 94.5 percent of total imports. Of these, six items exceeded US$10 billion, collectively accounting for 63.1 percent.

Production materials continued to dominate the import structure, reaching US$426.92 billion, or 94.1 percent of total imports. Machinery, equipment, tools and spare parts accounted for 58.3 percent, while raw materials, fuels and other production inputs made up 35.8 percent. Consumer goods accounted for US$26.80 billion, or 5.9 percent.

The U.S. remained Viet Nam's largest export market in the first nine months, with turnover reaching US$140 billion. China was the country's largest import market, with turnover of US$187.34 billion.

Viet Nam posted a trade surplus of US$122.62 billion with the United States, up 23.8 percent year-on-year; US$36.06 billion with the EU, up 25.3 percent; and US$2.65 billion with Japan, up 85.9 percent.

Meanwhile, Viet Nam recorded trade deficits of US$121.48 billion with China, up 43 percent; US$43.75 billion with the Republic of Korea, up 90.4 percent; and US$15.49 billion with ASEAN, up 48.1 percent.

Overall, total merchandise trade turnover reached US$888.02 billion in the first nine months, up 30.4 percent year-on-year. Exports increased 24.5 percent, while imports rose 36.7 percent, resulting in a cumulative trade deficit of US$19.42 billion./.