Vietnam expects to record a trade surplus of nearly USD 11 billion this year.
The figure was announced on Monday in a report by Deputy Minister of Industry and Trade Tran Quoc Khanh.
According to the report, Vietnam expects to record some USD 732 billion in import-export turnover in 2022, up 10 percent compared to 2021's figure. Import revenues are expected to increase by 10.50 percent against last year, to USD 371.50 billion.
The country enjoyed a trade surplus of nearly USD 11 billion this year, triple that of last year. This was also the seventh year that the country reported a trade surplus.
Khanh added that the FDI enterprises contributed 74 percent of the export revenues while local enterprises failed to boost their export activities.
The US is Vietnam's biggest importer in 2022, with turnover estimated at USD 101.50 billion, while China remained the largest exporter, at USD109.90 billion.
This year, Vietnam also recorded a trade surplus of USD 29.40 billion with the European Union, and a trade deficit of USD 56.90 billion with China.
