Vietnam Sets Record Trade Surplus in 2014

The country ran a record trade surplus of US$2.14 billion in 2014, according to the Vietnam Customs.
 
Vietnam’s export-import turnover in 2014 totaled US$298.24 billion, up 12.9 percent from 2013.
 
Of the figure, US$150.19 billion was earned from exports, up 13.7 percent while US$148.05 billion was used for import, up 12.1 percent.
 
The Foreign Direct Investment (FDI) sector’s exports and imports were US$94 billion and US$84.19 billion, up 16.1 percent and 13.1 percent, respectively.
 
The State sector reaped US$118.26 billion in the trade turnover, up 10.4 percent.
 
The exports of phones and accessories took the lead among export items with US$23.6 billion, up 11.1 percent.
 
The EU is the largest phones and accessories importer of Vietnam with US$8.45 billion, up 3.6 percent and accounting for 36 percent, followed by the United Arab Emirates with US$3.63 billion, up 6.1 percent and the US with US$1.54 billion.
 
The garment and footwear exports were placed  the second and third with US$20.95 billion and US$10.34 billion, up 16.8 percent and 23.1 percent, respectively.
 
It was followed by aquaculture products with US$7.84 billion, up 17.1 percent, crude oil with US$7.23 billion, down 0.1 percent, coffee US$3.56 billion, up 30.9 percent, rice with US$2.96 billion, fruits and vegetables with US$1.49 billion, up 38.9 percent.
 
Source: VCCI