Vietnam’s trade surplus declined to USD 1.7 billion in August 2019 from a USD 2.2 billion in the same month a year earlier, as exports rose less than imports. Exports increased 4.5 percent over a year earlier to USD 24.50 billion, boosted by sales of gemstones, precious metals (714.6 percent); footwear (14.3 percent); electronics, computers and components (12.9 percent); means of transports and spare parts (10.1 percent); and phone and component (7 percent). Meantime, imports rose at a faster 7.5 percent to USD 22.8 billion, mainly due to purchases of transportation and spare parts (620.4 percent); coal (102.3 percent); electronics, computers and components (22.2 percent); and machinery, equipment, tools and spare parts (15.5 percent). Considering January to August, the country's trade surplus narrowed to USD 3.4 billion from USD 4.8 billion in the same period of 2018. Balance of Trade in Vietnam averaged -307.80 USD Million from 1990 until 2019, reaching an all time high of 2258 USD Million in March of 2018 and a record low of -3888 USD Million in December of 1996.
Balance of Trade in Vietnam is expected to be 100.00 USD Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Balance of Trade in Vietnam to stand at 2000.00 in 12 months time. In the long-term, the Vietnam Balance of Trade is projected to trend around 1600.00 USD Million in 2020, according to our econometric models.