Trade The mystery of Vietnam’s trade surplus By Nguyen Dinh Bich Sunday, Nov 10, 2019,12:48 (GMT+7) The mystery of Vietnam’s trade surplusBy Nguyen Dinh Bich Although her economic targets approved over the past three years set a trade deficit, Vietnam enjoyed a trade surplus during that period – PHOTO: LE HOANG VU In its annual plans in recent years, the Government has always anticipated trade deficit. In reality, Vietnam has always run a trade surplus. In addition, the country’s inflation control is also impressive. They are all positive signs. However, accurate forecasts are essential. What is the real cause of the discrepancy? The truth lies with the price level on the global market. Although her economic targets approved over the past three years set trade deficit at between 3% and 5.5% of the total foreign trade value, Vietnam enjoyed a trade surplus of almost US$1.8 billion in 2016, US$2.1 billion in 2017 and US$6.8 billion in 2018, a record high equivalent to some 2.7% of the nation’s total foreign trade value. This year’s target is still set consistent with that of 2018, meaning a trade deficit of 3.5%. However, in fact, Vietnam reached a new high of trade surplus at US$7.15 billion in the… Read full this story
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