Vietnam recorded a trade surplus exceeding US$10 billion by mid-August as exports continued to bounce back during the first half of August, according to the latest statistics compiled by the General Department of Vietnam Customs.

The country raked in US$12.7 billion from exports while spending US$10.8 billion on imports in the first half of August. 

Overall, it grossed US$160.2 billion from exports since the beginning of the year to August 15, representing an annual increase of approximately 1.8%, equivalent to nearly US$3 billion, while imports fell to US$150.2 billion, roughly US$4 billion less than the corresponding figure last year.

Worthy of note is that phones and accessories brought back US$2.58 billion, topping the list of commodities that have obtained a high export value. They were followed by computers, electronics and components (US$1.9 billion), c(US$1.36 billion), and machinery, equipment, and spare parts (US$1.11 billion).

Due to the resurgence of the novel coronavirus epidemic, the nation’s export activities in the remaining months of the year are projected to face an array of challenges. 

Despite this, the implementation of the EU-Vietnam Free Trade Agreement on August 1 is poised to create opportunities for businesses, according to the Ministry of Industry and Trade. 

With strong commitments to opening the market and abolishing import duties of up to 100% on tariff lines, there are bright prospects ahead for Vietnamese exports to the EU market, especially for key products of garments, footwear, agro-forestry and fisheries.