Trade deficit runs at US$1 bln in 6 months

(VOV) -Vietnam’s trade deficit rose to US$1.06 billion from the beginning of the year to June 15 despite increased exports.

The General Department of Customs reported that Vietnam earned US$55.84 billion from exports, up 15.3%, but imported US$56.9 billion worth of goods, up 15.1%, in the reviewed period.

From June 1–15, Vietnam’s import-export turnover managed US$10.35 billion, falling by 18.3 percent from the second half of the previous month. 

Some export commodities declined in value, including phone handsets and spare parts, seafood, footwear, machinery, vehicles and spare parts, computers, electronic products, coffee, and garments.

The US$3.14 billion June 1–15 export value from Foreign Direct Investment (FDI) businesses was 20.4 percent below the second half of May 2013.

The FDI’s total export earnings from January 1 to June 15 added up to US$33.65 billion, a 27.8 percent increase on the same period last year and constituting 60.3 percent of the whole country’s total export value.

Vietnam’s June 1–15 imports were valued at US$5.12 billion, a 17.4 percent fall compared to the second half of May 2013.

Imports of petroleum, computers, electronic products and spare parts, machines, and iron and steel, all declined.

The FDI sector’s June 1–15 import value was US$3.01 billion, down by 13.5 percent against the second half of May 2013.