Vietnam enjoys trade surplus of US$2.68 billion in 2016

[Shotgunner51]

Vietnam enjoys trade surplus of US$2.68 billion in 2016
Wednesday, 2016-12-28 05:12:07

NDO—Vietnam earned roughly US$175.94 billion from exports in 2016, reporting a year-on-year increase of 8.6%, according to the General Statistics Office.

The country’s import turnover was estimated at US$173.26 billion during the period, up 4.6% against the previous year, resulting in a trade surplus of US$2.68 billion.

Vietnam posted export revenue of nearly US$16 billion in December, down 0.8% over the previous month, while the nation’s import revenue was reported at over US$16.3 billion in, down 0.5% against the previous month.

The domestic economic sector reported a trade deficit of US$21.02 billion, exporting US$50 billion worth of goods, up 4.8% year on year, and importing US$71.1 billion worth of commodities, up 4% year on year.

The foreign direct investment (FDI) sector, on the contrary, enjoyed a trade surplus of US$23.7 billion in 2016, with export revenues of US$125.9 billion (including crude oil), up 10.2% year on year, and import revenues of US$102.1 billion, up 10.5% against 2015.

Major foreign currency earners included phones and phone parts, electronic goods, textile and garments, computers, machinery and equipment, footwear and aquatic products.

Phones and phone parts brought in an estimated US$34.51 billion, up more than 14.4% year on year, while textile and garments earned nearly US$23.56 billion, an increase of 3.3%.

http://en.nhandan.org.vn/business/i...trade-surplus-of-us$2-68-billion-in-2016.html

 

[hoangsa74]

and Vietnam incurs $28 billion trade DEFICIT with China. Absolutely a horrific figure for a country the size of Vietnam.

Meanwhile Vietnam incurs $29 billion trade SURPLUS with America.
Vietnam incurs $23 billion trade SURPLUS with the EU.

Vietnam is a useless country without America or e.u. all the Vietnamese money is flowing to China in the form of trade deficit. China gets all the money from Vietnam while Vietnam is getting just bones. it's no wonder why Vietnam is just a scooter country and its military is so backward because all of her money is being sent to China.


http://news.zing.vn/viet-nam-giam-nhap-sieu-tu-trung-quoc-dung-o-28-ty-usd-post711438.html

 

[TaiShang]

and Vietnam incurs $28 billion trade DEFICIT with china. Absolutely a horrific figure for a country the size of Vietnam.

Meanwhile Vietnam incurs $29 billion trade SURPLUS with America.
Vietnam incurs $23 billion trade SURPLUS with the EU.

Vietnam is a useless country without America or e.u. all the Vietnamese money is flowing to china in the form of trade deficit. china gets all the money from Vietnam while Vietnam is getting just bones. it's no wonder why Vietnam is just a scooter country and its military is so backward because all of her money is being sent to china.


http://news.zing.vn/viet-nam-giam-nhap-sieu-tu-trung-quoc-dung-o-28-ty-usd-post711438.html

US is a debt financed deficit economy. No surprise Vietnam gets surplus. East Asia is surplus-
based region, mostly. China, for example, has deficit against South Korea, if I am not mistaken.

What matters is Vietnam has had overall trade surplus. You cannot simply get surplus with everybody. Even China can't.

 

[shadows888]

and Vietnam incurs $28 billion trade DEFICIT with china. Absolutely a horrific figure for a country the size of Vietnam.

Meanwhile Vietnam incurs $29 billion trade SURPLUS with America.
Vietnam incurs $23 billion trade SURPLUS with the EU.

Vietnam is a useless country without America or e.u. all the Vietnamese money is flowing to china in the form of trade deficit. china gets all the money from Vietnam while Vietnam is getting just bones. it's no wonder why Vietnam is just a scooter country and its military is so backward because all of her money is being sent to china.


http://news.zing.vn/viet-nam-giam-nhap-sieu-tu-trung-quoc-dung-o-28-ty-usd-post711438.html

useless country that kicked everyone's butt in war? yeah ok.

 

[terranMarine]

I wouldn't call Vietnam a useless country, the Viets here are convinced they are the next supa powa

 

[ahojunk]

I am just shaking my head.

Why can't we just celebrate some good news?

There is no need to dig up and throw dirt.

 

[Shotgunner51]

China, for example, has deficit against South Korea, if I am not mistaken.

True, China overall is surplus in most bilateral trades, but does have some bilateral trade deficits, largest is Taiwan, others include South Korea, Germany, Japan to round up the top four. In terms of deficit item most are industrial components and capital goods, largest is chipset (e.g. TSMC), others include advanced materials/chemicals/steel, optic components (camera, sensors), advanced CNC machine tools. It's normal, these four suppliers are well known to be competitive in their respective fields. That's also why China line out 10 priority sectors in "Made in China 2025", mobilize national resources to compete with them, one by one.
https://defence.pk/threads/gardner-...e-tool-survey-data-ranking-by-country.468126/

 

[Chinese-Dragon]

Countries in East and Southeast Asia tend to be competitive when it comes to trade.

 

[TaiShang]

Countries in East and Southeast Asia tend to be competitive when it comes to trade.

Exactly. Hence, like @Shotgunner51 proves, it is normal to have trade deficit with each other so long as the overall trade balance is in the positive territory.

It does not make sense to argue that Vietnam has a trade deficit with China, so let's cut the trade off. This is like saying China should cut the trade with Japan, at over $300 billion, because it has a trade deficit.

Also, the quality of trade deficit is also important. China probably gets lots of value added industrial products (machineries, robots etc.) from Japan; hence, the deficit probably is fine until China achieves parity in industrial manufacturing.

Vietnam will probably follow a similar way: Incur trade deficit with advanced East Asian manufacturing surplus oriented, creditor powers while enjoying trade surplus with deficit-driven debtor countries.

 

[Shotgunner51]

Exactly. Hence, like @Shotgunner51 proves, it is normal to have trade deficit with each other so long as the overall trade balance is in the positive territory.

It does not make sense to argue that Vietnam has a trade deficit with China, so let's cut the trade off. This is like saying China should cut the trade with Japan, at over $300 billion, because it has a trade deficit.

Also, the quality of trade deficit is also important. China probably gets lots of value added industrial products (machineries, robots etc.) from Japan; hence, the deficit probably is fine until China achieves parity in industrial manufacturing.

Vietnam will probably follow a similar way: Incur trade deficit with advanced East Asian manufacturing surplus oriented, creditor powers while enjoying trade surplus with deficit-driven debtor countries.

Agree, let's ignore illiterate comments which change nothing in reality, cos trade are done by rational, serious, pragmatic business community. It's good to see Vietnam having strong exports too, as long as customers pay in any "hard currency" (e.g. petrodollar nowadays), every exporters should gladly take it as acceptable form of payment.

 

[Viet]

and Vietnam incurs $28 billion trade DEFICIT with China. Absolutely a horrific figure for a country the size of Vietnam.

Meanwhile Vietnam incurs $29 billion trade SURPLUS with America.
Vietnam incurs $23 billion trade SURPLUS with the EU.

Vietnam is a useless country without America or e.u. all the Vietnamese money is flowing to China in the form of trade deficit. China gets all the money from Vietnam while Vietnam is getting just bones. it's no wonder why Vietnam is just a scooter country and its military is so backward because all of her money is being sent to China.


http://news.zing.vn/viet-nam-giam-nhap-sieu-tu-trung-quoc-dung-o-28-ty-usd-post711438.html

you contradict by yourself. Taishang and Shotgunner have pointed out, the most important metric is we achieve a surplus. and don´t forget VN is one of few trading nations in the world with increasing exports and imports. below the trade figures of VN´s top 6 trade countries: China, US, EU, S Korea, ASEAN and Japan in the same article you post. green export, red import. interesting is the gap between the published trade figure between VN and CN. China has targeted a higher bilateral trades, expectedly reach $100b last year.

http://www.chinadaily.com.cn/business/2016-03/09/content_23791827.htm

 

[Shotgunner51]

Taishang and Shotgunner have pointed out, the most important metric is we achieve a surplus

Agree, final results is everything, it's good that Vietnam scores overall trade surplus.

In terms of bilateral deals, it's normal (at least in current stage) to record some deficits, say with commodity-exporting nations, nations competitive or even dominate in some industrial field. In your other thread about OLED, it's not just one nation, but in fact there is only one company making OLED machine (Canon Tokki). I can name you a list of tech companies that monopolize global share in their fields. For industrialization especially small-medium nations, trade is not just good to have, it's vital. There is a term for this - supply chain integration.

https://defence.pk/threads/un-world...global-ranking-of-171-countries.462744/page-3 Post 35
https://defence.pk/threads/samsung-...led-displays-for-iphone8.471214/#post-9085002