Trade deficit hits US$62 million in eight months

Vietnam has run a moderate deficit of US$62 million in the past eight months despite impressive export growth.

  • Increasing trade deficit a “positive” sign

Exports rose 17.8 percent year-on-year to US$73.35 billion in eight  months, while imports reached US$73.41 billion, up 6.7 percent, according to the General Statistics Office (GSO).

In August alone, Vietnam earned US$ 9.8 billion from exports, down 3.8 perecnt from the July figure, and slipping into a deficit of US$150 million.

The downward trend in exports reversed gains in the previous two months when Vietnam enjoyed a trade surplus in June and July

The GSO said that Ho Chi Minh City’s export turnover reached US$19.26 billion in the past eight months, representing a trade surplus of US$1.58 billion.

In the reviewed period, Hanoi reaped US$6.65 billion from exports while the capital city’s imports hit US$15.48 billion.