Eight-month trade deficit stands at US$ 3.71 billion
VOV.VN - The first eight month of the year saw Vietnam suffer trade deficit of US$3.71 billion, including US$20.36 billion from the domestic economic sector, according to figures provided by the General Statistics Office (GSO).
Meanwhile, the nation’s export turnover during the reviewed period soared by 21.5% on year to US$212.5 billion, despite a fall of 5.4% in August.
The domestic sector contributed US$ 55.6 billion, accounting for 26.2% of the total and posting a year-on-year rise of 10.5%. The foreign-invested sector (including crude oil) constituted 73.8% of the total, or US$ 56.8 billion, up 25.5 %.
Throughout the period, 30 export products recorded revenue of more than US$1 billion each and together they made up of 91.8% of the total shipments.
The group of industrial processing goods made a lion share of total export revenue, with close to US$189.3 billion, representing a year-on-year increase of 22.5%. Meanwhile, agricultural and forestry products raked in US$15.4 billion, up 14.9% and of aquatic products US$5.58 billion, up 7.1 %.
The US remained the biggest export market of Vietnam over the past eight months, with revenue of US$ 62 billion, a year-on-year rise of 32.5%, trailed by China came with US$ 32.7 billion, up 19.8%. The EU and ASEAN followed with US$26 billion and US$18.4 billion, showing respective increases of 14.5% and 23.3 %.
The nation spent US$216 billion on imports during the eight-month period, an annual growth of 33.8%, with China being the biggest source of imports.
The continual complicated pandemic situation across the country, coupled with the enforcement of social distancing measures have adversely affected trade activities during the eight-month period.