Vietnam posts trade surplus of nearly US$15.5 billion by mid-August

Of the total value, the trade turnover of foreign-invested enterprises surged by 15.4% year on year to US$321.04 billion.

The export of commodities continue to be a driving force in helping the Vietnamese economy to achieve high growth throughout this year, said the general department.

Most notably, several industries such as wood, garments and textiles, hardware, electronics, and machinery, all witnessed impressive export growth during the reviewed period.

Experts from the World Bank pointed out that robust export growth in processing and manufacturing has contributed to raising Vietnamese GDP growth to 6.4% in the first half of this year, which is far higher than the growth rate of only 5% recorded in the same period last year.

These positive export results were attributed to the effective implementation of policies and solutions aimed at removing hurdles facing firms and maximizing incentives under free trade agreement (FTAs).

According to insiders, despite facing numerous challenges, import and export activities are forecast to remain as one of the key driving forces in accelerating the country’s economic growth ahead in the remaining months of the year amid the recovery of the international market.