Viet Nam’s total trade value hits over US$355 bln in five months

The country's export earnings grew by 5.7 percent, while its import turnover rose by 17.5 percent, resulting in a trade surplus of US$4.67 billion in the period.

In May alone, the total trade revenue reached US$78.64 billion, up 5.8 percent compared to the previous month, and 15.5 percent year-on-year.

The export value in the month stood at US$39.6 billion, up 5.7 percent month-on-month while the import value hit US$39.4 billion, up 5.9 percent.

For the first five months of the year, Viet Nam's export turnover reached US$180.23 billion, a 14 percent year-on-year rise. The domestic sector contributed US$49.62 billion (up 12.5 percent), accounting for 27.5 percent of total exports, while the foreign-invested sector, including crude oil, earned US$130.61 billion (up 14.5 percent), making up 72.5 percent of total exports.

During this period, 25 export items surpassed the US$1 billion mark, accounting for 90 percent of total export value. Seven of these items exceeded US$5 billion, or 67.3 percent.

On the import side, Viet Nam spent US$175.56 billion on imports in the January–May period, up 17.5 percent year-on-year. The domestic sector imported US$62.04 billion worth of goods (up 12.9 percent), while the foreign-invested sector's import value stood at US$113.52 billion (up 20.2 percent).

The U.S. remained Viet Nam's largest export market, with turnover reaching US$57.2 billion. Meanwhile, China continued to be the country's biggest import source, with imports amounting to US$69.4 billion.

During January-May period, Viet Nam ran a trade surplus of US$49.9 billion with the U.S., a 28.5 percent increase year-on-year, while its surplus with the EU expanded by 16 percent to US$16.3 billion. Notably, the country's trade surplus with Japan surged to US$0.9 billion./.