Your question: Does Vietnam have a balance of payments surplus or deficit?

Characteristic Trade balance in billion U.S. dollars

Does Vietnam have a balance of payments surplus or deficit in 2019?

The General Statistics Office late last month forecast the 2019 trade surplus at $9.94 billion, and December’s trade deficit at $1 billion. Monday’s data also showed Vietnam’s trade surplus with the United States, Vietnam’s largest export market, widened to $46.98 billion last year from $34.87 billion a year earlier.

Which countries have deficit in the balance of payment?

Top 20 countries with the largest deficit

Rank Country CAB (Million US dollars)
1 United States -466,200
2 United Kingdom -106,700
3 India -87,200
4 Canada -49,260

Does Vietnam have a current account deficit?

Vietnam Current Account recorded a surplus of 350.0 USD mn in Mar 2021, compared with a surplus of 1.7 USD bn in the previous quarter. Vietnam Current Account Balance: USD mn data is updated quarterly, available from Mar 1996 to Mar 2021, with an averaged value of -93.2 USD mn.

Which country has surplus BOP?

In 2019, China was the country with the highest trade surplus with approximately 421.9 billion U.S. dollars. Typically a trade surplus indicates a sign of economic success and a trade deficit indicates an economic weakness.

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What is Vietnam’s largest export?

Exports The top exports of Vietnam are Broadcasting Equipment ($42.3B), Telephones ($18.2B), Integrated Circuits ($15.5B), Textile Footwear ($10.6B), and Leather Footwear ($6.43B), exporting mostly to United States ($63.7B), China ($40.3B), Japan ($21.2B), South Korea ($20.3B), and Germany ($8.22B).

Does the US trade with Vietnam?

U.S.-Vietnam bilateral trade has grown from $451 million in 1995 to over $90 billion in 2020. U.S. goods exports to Vietnam were worth over $10 billion in 2020, and U.S. goods imports in 2020 were worth $79.6 billion. U.S. investment in Vietnam was $2.6 billion in 2019.

Is it possible for a country to run a balance of payments deficit?

According to theory, it’s impossible to sustain a deficit in the balance of payments. In practice, temporary imbalances do occur because of accounting difficulties. In double-entry accounting, payments and receipts are necessarily equal.

What is the inflation rate in Vietnam?

In 2019, the average inflation rate in Vietnam amounted to 2.8 percent compared to the previous year.

Vietnam: Inflation rate from 1986 to 2026* (compared to the previous year)

Characteristic Inflation rate compared to previous year
2019 2.8%
2018 3.54%
2017 3.52%
2016 2.67%

What is the unemployment rate in Vietnam?

In 2020, the unemployment rate in Vietnam was 2.27 percent.

Vietnam: Unemployment rate from 1999 to 2020.

Characteristic Unemployment rate
2019 2.04%
2018 1.16%
2017 1.87%
2016 1.85%

Why current account surplus is bad?

It is not obvious to the lay person, but economics teaches us that a current account surplus is exactly equal to the surplus of national savings over investment. … The huge current account surplus implies that a poor country that badly needs investment finds economic prospects so weak that it is not investing.

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What 5 countries does the US have the highest surplus?

Year-to-Date Surpluses

Rank Country Surplus
1 Hong Kong 13.4
2 Netherlands 10.5
3 Brazil 7.2
4 Australia 7.1
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