FDI firms rack up trade surplus of US$24.56 billion in seven months

The General Department of Vietnam Customs reported that FDI firms raked in US$148.71 billion from exports in the period from January 1 to July 15, representing a year-on-year rise of 13.7% and making up 72% of the country’s total export turnover.

Most of the country’s key export items that brought back billions of US dollar each were manufactured by FDI firms, including computers, electronic products and components, phones and components, machinery, equipment, tools, and spare parts.

Meanwhile, the total import turnover of FDI firms reached US$124.15 billion, representing an increase of 16.2% compared to the same period last year and accounting for 63.5% of the country’s total import turnover.

Overall, FDI firms’ total import-export turnover surged by 14.8% in the reviewed period to US$272.87 billion, resulting in a trade surplus of US$24.56 billion.

At a recent regular Government press conference, Deputy Minister of Industry and Trade Phan Thi Thang attributed the positive results to the recovery of industrial production and FDI attraction and disbursement.

Accordingly, the Vietnam's Manufacturing Purchasing Managers' Index (PMI) kept improving at 54.7 in both June and July compared to 50.3 in May, while 60 out of 63 localities witnessed their industrial production index up in July. Especially, several localities recorded double digit growth such as Khanh Hoa, Bac Giang, Hai Phong, and Quang Ninh.