According to the office, the country’s import-export turnover is estimated to reach USD 64.34 billion in August, up 5.2% month-on-month and 17.3% year-on-year.

The figure raised the country's total value during the January-August period to USD 497.64 billion, up 15.5% y-o-y, of which exports reached USD 250.8 billion, up 17.3% and imports were estimated at USD 246.84 billion, up 13.6%.

Vietnam reports a trade surplus of nearly USD 4 billion in the first eight months of 2022.

In the reviewed period, 30 commodities reported their export value of more than USD 1 billion, with that of six surpassing the USD 10 billion benchmark.

Meanwhile, 38 commodities see their import value of over USD 1 billion, with four surpassing the 10-billion-USD mark.

During January-August, the U.S. was Vietnam’s biggest importer, buying USD 77.7 billion worth of goods, while China was Vietnam’s largest exporter, selling USD 82.1 billion worth of products.

Vietnam saw a trade surplus of USD 21.6 billion with the European Union, and a trade deficit of USD 47.8 billion with China in the period, up 46.4% and 21.9% y-o-y, respectively.

To assist exporters, the Ministry of Industry and Trade has helped them grasp contents of new-generation free trade agreements (FTAs) to make most of opportunities and minimize challenges brought about by these deals.

Attention has also being paid to bettering trade promotions, simplifying administrative procedures, and providing enterprises with both domestic and international market forecasts.

Source: VNA