Vietnam posts huge trade deficit in first half of April
VOV.VN - Vietnam recorded a trade deficit of US$1.62 billion during the first half of April, while exports fell by 20.9% to US$15.28 billion compared to the second half of March, according to figures given by the General Department of Vietnam Customs.
Most notably, computers, electronic products and components witnessed an import value of US$3.86 billion, accounting for 22.8% of the total import turnover as the country continued to ramp up imports of input materials for their production activities.
The total import and export value of local goods throughout the reviewed period dropped by 12.3% to US$32.17 billion in comparison to the previous period.
These figures thereby brought the country's total trade value since the beginning of the year to US$208.83 billion, an increase of 15.1%. Of which, exports increased by 14.3% to US$104.34 billion, while imports surged by 15.8% to US$104.48 billion against the same period from last year. During this period, the country also recorded a trade deficit of over US$140 million.
Strong export growth during the first half of April was recorded in commodities such as phones of various types and components with turnover of US$2.73 billion, computers, electronic products and components at US$1.77 billion, machinery, equipment, tools and spare parts at US$1.73 billion, textiles sand garments at US$1.47 million, as well as shoes of all kind at US$975 million.