January records trade deficit
Vietnam ran a trade deficit of US$100 million in January, after enjoying a trade surplus of billions of dollars in 2016.
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A number of major hard currency earners saw a drop in revenue in comparison with December. Phones and components felt 7.1 percent to US$2.5 billion, apparel, down 10.8 percent to US$2.05 billion, and computers-electronic devices, down 14.1 percent to US$1.6 billion.
Similar downward trend was seen in the import of key goods, with machinery and spare parts reporting a decrease of 15.3 percent to US$2.6 billion, while computers-electronic devices and petroleum products faced a respective drop of 10.3 and 32.7 percent from December of 2016 to US$2.25 billion and US$510 million.
The Ministry of Industry and Trade is implementing a programme on sustainable export, which puts forth measures to restructure the market and boost product competitiveness.The programme also highlights product quality improvement, trade promotion and market expansion.
