Investment News

Trade surplus reaches 5-year high



Vietnam recorded a trade surplus of $24.6 billion in the first 10 months, the highest in five years, jumping 2.5 times year-on-year.

Domestic companies had a trade deficit of $18 billion while foreign invested companies (including crude oil businesses) saw a trade surplus of $42.6 billion, according to a recent report released by the Ministry of Industry and Trade.

"A trade surplus helps stabilize the macro economy, ensure balances of the economy and supports international payment," according to the report.

Imports fell 12% year-on-year to $267 billion, as difficulties finding foreign buyers made manufacturers order less materials from overseas.