Viet Nam posts US$12.07 billion deficit in January-October period

It marked the first time the country's total foreign trade exceeded US$1 trillion, reflecting the strong expansion of its international trade activities.

During the reviewed period, export turnover totaled US$499.24 billion, representing a year-on-year increase of 27.5 percent. Of the total, the domestic economic sector contributed US$93.93 billion, up 8.2 percent and accounting for 18.8 percent of total export value.

The foreign-invested sector, including crude oil, generated US$405.31 billion in exports, up 33 percent and making up 81.2 percent of the total.

As many as 37 export items recorded turnover exceeding US$1 billion each, accounting for 94.9 percent of the country's total export value, of which, eight items surpassed US$10 billion each, making up 73.4 percent of total exports.

Meanwhile, import volume hit US$511.31 billion, up 37.4 percent year on year. The domestic economic sector accounted for US$131.76 billion, up 23 percent, while the foreign-invested sector recorded US$379.55 billion, up 43.2 percent.

Viet Nam recorded a deficit of US$12.07 billion during the January-October period, said the National Statistics Office.

The U.S. remained Viet Nam's largest export market, with turnover reaching US$159.40 billion, while China was the largest goods supplier, with US$212.46 billion.

During the January-October period, Viet Nam posted a trade surplus of US$140.10 billion with the U.S., up 26.2 percent year on year; US$40.84 billion with the EU, up 26.8 percent; US$3.42 billion with Japan, up 110.4 percent.

Meanwhile, Viet Nam recorded trade deficit of US$134.94 billion with China, up 43.2 percent; US$48.63 billion with South Korea, up 91.1 percent; and US$16.93 billion with ASEAN, up 46 percent./.