Analyst Pin-board Exports resilience maintained in Oct 2020 but challenges ahead
Exports resilience maintained in Oct 2020
Vietnam’s exports in Oct 2020 rose by 12.2% yoy, slightly lower than the 16.6% increase in Sep 2020 while imports climbed 9.2% yoy, lower than the increase of 12.6% in the preceding month. The trade surplus was at US$2.94bn compared to US$2.95bn in Sep 2020 and the reading in 10M20 was US$19.6bn, greatly better than US$8.9bn in the same period last year. By products, tech and machinery were still the major driver of the strong export gains. There were also signs of seasonal demand from stronger shipments of toys and furniture. Imports were led by demand for intermediate inputs, especially for tech products.
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