Vietnam's 2014 trade surplus seen at record US$1.98b: newspaper

[HANOI] Vietnam's trade surplus this year could reach a record US$1.98 billion, with exports hitting US$150.04 billion, a state-run newspaper said on Friday.

This year's surplus will be the third in a row. In 2013, Vietnam's surplus was US$860 million, up for US$780 million the previous year.

Earlier this month, Prime Minister Nguyen Tan Dung said exports could be a record US$150 billion, up 13 per cent from 2013.

Robust exports have been the main driver of Vietnam's economy, which is expected to expand 5.8 per cent this year, up from 5.42 per cent in 2013.

Telephones, mobile phones and spare parts are the biggest cash earners, with a revenue of US$24 billion, followed by textiles and garment products that generated US$20.76 billion, the Tien Phong (Vanguard) newspaper cited trade ministry data as saying.

Imports for 2014 were estimated at US$148.06 billion, the report said.

The government is expected to release 2014 trade details before Jan. 1.

REUTERS