VOV.VN - In the first quarter of this year, imports from China jumped by 18.9% to nearly US$12.7 billion against the same period last year, making up 27.3% of the country’s total imports, according to preliminary statistics from the General Department of Vietnam Customs.
VOV.VN - The Vietnam trade deficit has been reported by the General Statistics Office (GSO) at US$1.9 billion in the first quarter of 2017.
Production and business results improved in the first two months of this year, but trade was unbalanced with strong growth in auto and mobile phone imports, the Ministry of Industry and Trade reported.
Vietnam reported trade deficit of US$1.2 billion in February, the General Statistics Office (GSO) announced on February 26.
Vietnam ran a trade deficit of US$100 million in January, after enjoying a trade surplus of billions of dollars in 2016.
Vietnam’s steel imports increased 18.4% to a record high of 18.4 million tons last year, while its steel exports soared 36% to 3.5 million tons, customs data showed.
The Ministry of Industry and Trade has set four targets to help the country’s gross domestic product (GDP) expand by 6.7% in 2017, Minister Tran Tuan Anh said at a conference in Hanoi on January 6.
The task of cutting trade deficit with ASEAN is huge for Vietnam as it involves a wide range of efforts from reforming technology to improving product quality, according to trade officials.
Hoa Sen Group’s steel project in Ca Na, Thuan Nam District, Ninh Thuan Province has been put in a draft zoning plan for Vietnam’s steel sector until 2025 with a vision towards 2035 even though it has sparked strong public criticisms.
Efforts to decrease the trade deficit with China is an important policy and one of the Ministry of Industry and Trade (MoIT)’s chief concerns, in addition to increasing exports to this market, says Industry and Trade Deputy Minister Do Thang Hai.
Goods from China are expected to come flooding in as Vietnam will soon remove or cut tariffs on a wide range of products to fulfill its commitment as a member the ASEAN-China Free Trade Area.
VOV.VN - Commercial trade with the ASEAN is a microcosm of the challenges facing the Vietnamese domestic sector globally.
VOV.VN - The six-day visit by Prime Minister Nguyen Xuan Phuc to China last month, his first since taking office in April, has raised new hope that the two neighbours will take corrective action to redress the balance of trade deficit.
Reducing trade deficit with China to progress to trade balance from the market shape one of the major policies and key activities of the Ministry of Industry and Trade (MoIT), an official has said.
VOV.VN - The country’s exports in September is estimated to reach US$15 billion, down 6.8% compared to August, according to the latest statistics from the General Statistics Office of Vietnam (GSO).
The free trade agreement between Vietnam and the Republic of Korea (RoK) will bring enormous economic benefits for the Southeast Asian country.
The country posted a trade surplus of nearly US$1.8 billion in the first seven months of this year, according to the General Statistics Office (GSO).
VOV.VN - The trade deficit with Singapore in the first half of 2016 has continued to rear its ugly head despite the efforts of the private sector to increase the reach of their products into the Singaporean market.
VOV.VN - Despite a modest contraction of the Vietnam trade deficit in the five months leading up to May, the Ministry of Industry and Trade (MoIT) forecasts a wider shortfall for the full fiscal year.
Vietnam saw a trade deficit of US$177 million in May after two months enjoying slight surplus, according to statistics from the General Department of Vietnam Customs.