Vietnam records trade expansion in four months

Vietnam’s trade revenue is estimated at US$125.41 billion in the first four months of 2017, a year-on-year increase of 20.1%, said the General Department of Vietnam Customs.

It consists of US$61.34 billion from exports, up 15.4%, and US$64.07 billion from imports, up 24.9% from a year earlier.

Key export commodities include telephones and components, textile and garment, footwear, and transport vehicles and spare parts.

In April, overseas shipments of telephones and components were about US$3.6 billion, rising by 16.4% from the previous month. That added up to US$11.37 billion in total exports of these items in four months, up 0.3% year on year.

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A textile factory of the Quang Phu Textile and Garment JSC in Ninh Son district of Ninh Thaun province 

Although this month’s exports of textile and garment dropped 12% from March to US$1.85 billion, it still posted an annual rise of 9.1% to US$7.47 billion between January and April.

A monthly decline, 3.8%, was also recorded in footwear exports which stood at US$1.05 billion in April. However, total exports still went up 9.6% on the yearly basis to US$4.17 billion.

Meanwhile, main import items were machinery, equipment, tools and spare parts, computers, electronic products and components, fabric, steel, plastics, and garment and footwear materials.

In April, the import turnover of machinery, equipment, tools and spare parts fell 0.2 percent month on month to US$3.25 billion, which totalled US$11.32 billion in four months – up 38.9% compared to the same period last year.

About US$2.85 billion was spent to import computers, electronic products and components in April, representing a 4.6% monthly decrease. It is estimated at US$10.45 billion in the four-month period, hiking 24.7% year on year.

Some 1.6 million tonnes of steel worth US$945 million were imported this month, respectively increasing 8.7% and 8.2% from March. The import volume has approximated 5.8 million tonnes, down 5.9% year on year, with turnover of US$3.3 billion, up 24.7%, since the beginning of 2017.

Vietnam experienced trade deficit of US$800 million in April and nearly US$2.74 billion in fourth months, Vietnam Customs said.

VNA

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