Rice is Việt Nam's key currency earner. — VNA/VNS Photo

Việt Nam posted a trade surplus of US$23.31 billion during January-October, reported the Ministry of Planning and Investment’s General Statistics Office (GSO).

October alone witnessed a significant surge in trade activity, with the total value of foreign trade reaching $69.19 billion. This marks a substantial 5.1 per cent increase from the previous month and a 11.8 per cent year-on-year growth.

The cumulative trade value for the first 10 months of the year soared by 15.8 per cent annually to $647.87 billion.

Việt Nam's export revenue during this period stood at $335.59 billion, reflecting a 14.9 per cent increase year on year. The domestic economic sector contributed $93.97 billion, accounting for 28 per cent of the total. Meanwhile, the foreign-invested sector, including crude oil, generated $241.62 billion, up 12.8 per cent and constituting 72 per cent of the total.

Notably, 31 export products each surpassed $1 billion in value, collectively accounting for 92.6 per cent of the total. Among them, seven standout items exceeded $10 billion, contributing a substantial 66.5 per cent to the overall value.

Imports also saw an uptick, rising by 16.8 per cent annually to $312.28 billion. The domestic economic sector’s spending went up 18.8 per cent to $113.58 billion while the foreign-invested sector recorded $198.7 billion, a 15.8 per cent increase.

A total of 42 import products surpassed the $1 billion threshold, making up 92.1 per cent of the total, with four exceeding $10 billion, representing 48.3 per cent.

The US remained Việt Nam's largest export market with an export turnover of $98.4 billion. On the import front, China continued to be Việt Nam's top supplier with an import turnover totaling $117.7 billion. — VNA/VNS