AGL 40.01 Increased By ▲ 0.01 (0.03%)
AIRLINK 131.00 Increased By ▲ 1.47 (1.13%)
BOP 6.89 Increased By ▲ 0.21 (3.14%)
CNERGY 4.55 Decreased By ▼ -0.08 (-1.73%)
DCL 8.80 Decreased By ▼ -0.14 (-1.57%)
DFML 42.45 Increased By ▲ 0.76 (1.82%)
DGKC 84.50 Increased By ▲ 0.73 (0.87%)
FCCL 32.90 Increased By ▲ 0.13 (0.4%)
FFBL 77.50 Increased By ▲ 2.03 (2.69%)
FFL 12.10 Increased By ▲ 0.63 (5.49%)
HUBC 110.02 Decreased By ▼ -0.53 (-0.48%)
HUMNL 14.41 Decreased By ▼ -0.15 (-1.03%)
KEL 5.53 Increased By ▲ 0.14 (2.6%)
KOSM 8.37 Decreased By ▼ -0.03 (-0.36%)
MLCF 39.55 Decreased By ▼ -0.24 (-0.6%)
NBP 63.60 Increased By ▲ 3.31 (5.49%)
OGDC 198.80 Decreased By ▼ -0.86 (-0.43%)
PAEL 26.37 Decreased By ▼ -0.28 (-1.05%)
PIBTL 7.67 Increased By ▲ 0.01 (0.13%)
PPL 158.51 Increased By ▲ 0.59 (0.37%)
PRL 26.40 Decreased By ▼ -0.33 (-1.23%)
PTC 18.40 Decreased By ▼ -0.06 (-0.33%)
SEARL 82.30 Decreased By ▼ -0.14 (-0.17%)
TELE 8.10 Decreased By ▼ -0.21 (-2.53%)
TOMCL 34.42 Decreased By ▼ -0.09 (-0.26%)
TPLP 8.92 Decreased By ▼ -0.14 (-1.55%)
TREET 16.90 Decreased By ▼ -0.57 (-3.26%)
TRG 59.17 Decreased By ▼ -2.15 (-3.51%)
UNITY 27.51 Increased By ▲ 0.08 (0.29%)
WTL 1.41 Increased By ▲ 0.03 (2.17%)
BR100 10,672 Increased By 265.1 (2.55%)
BR30 31,988 Increased By 274.3 (0.87%)
KSE100 98,916 Increased By 1587.8 (1.63%)
KSE30 30,832 Increased By 639.3 (2.12%)
Print Print 2018-09-12

Vietnam posts surprise $2.2 billion trade surplus

Strong growth in telephone and textile exports helped Vietnam
Published September 12, 2018

Strong growth in telephone and textile exports helped Vietnam
post a $2.2 billion trade surplus in August, according to customs data released on Monday that completely confounded the government's estimate of a $100 million deficit for the month.
The August surplus even surpassed Vietnam's $2.1-billion surplus for all of last year, and was a positive signal for economic growth, which is expected to beat the government's forecast of 6.7-percent target for 2018.
Exports in August rose 15.6 percent from a month earlier to $23.48 billion, while imports rose 1.6 percent to $21.28 billion, the customs department said on its website.
Exports in January-August rose 16.7 percent annually to $158.4 billion, led by shipments in smartphones, garments and electronic home appliances, and were on track to outperform the government's full-year target for a 7-8 percent increase.
Vietnam, the largest producer of smartphones for Samsung Electronics, shipped $45 billion worth of telephones and spare parts in the eight-month period, up 32 percent annually, easily outstripping the government's estimate of $30.9 billion, the report showed.
Textile, garments, electronic and computer exports also rose strongly in the first eight months with a combined value of $52 billion, also much higher than the government's estimate of $37.9 billion, official data showed.
Exports of steel and ingots jumped 55 percent in the eight-month period to $3.1 billion, higher than the government's estimate of $2.9 billion.
The United States has slapped steel import duties on steel products from Vietnam that originated in China, to deter Vietnam from being used for transhipment by China to avoid US tariffs. Eight-month imports were up 12.4 percent at $153.7 billion, producing a trade surplus $4.69 billion, the report showed.

Copyright Reuters, 2018

Comments

Comments are closed.