Vietnam recorded total trade of $435.23 billion in the first eight months of this year, down 13.1 per cent against the same period last year, figures from the General Statistics Office (GSO) reveal.

Exports totaled $227.71 billion, a year-on-year decline of 10 per cent.

Imports, meanwhile, reached $207.52 billion, down 16.2 per cent.

This resulted in Vietnam posting a trade surplus of $20.19 billion in the period.

In August alone, total trade revenue was estimated at $60.92 billion, a 6.7 per cent increase against July.

During the eight-month period there were 30 products recording export value in excess of $1 billion, accounting for 91.8 per cent of the country’s total. Five products posted revenue of $10 billion or more, or 58.4 per cent of the total.

The US was Vietnam's largest export market with estimated turnover of $62.3 billion, while China was its largest import source, with $68.1 billion.