Vietnam reports an estimated trade value of USD176.35 billion in Q1

The data shows how the economy continues to change after the pandemic. Despite the headwinds created by the different COVID-19 variants, Vietnam’s economy is recovering

Vietnam reported an estimated trade value of 176.35 billion U.S. dollars in the first quarter of this year, up 14.4 percent year on year, with a trade surplus of some 809 million U.S. dollars, according to the General Statistics Office.

Specifically, export revenues stood at 88.58 billion U.S. dollars, up 12.9 percent, while import revenues totaled 87.77 billion U.S. dollars, up 15.9 percent, the office said on Tuesday.

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The data from General Statistics Office showed, between January and March, the United States remained Vietnam’s biggest importer with turnovers of 25.2 billion U.S. dollars, followed by China with 13.3 billion U.S. dollars and the European Union with 11.1 billion U.S. dollars.

In the same period, China is Vietnam’s largest exporter with 27.6 billion U.S. dollars, followed by South Korea with 16.3 billion U.S. dollars and the Association of Southeast Asian Nations with 11.3 billion U.S. dollars, said the office.