Vietnam first quarter trade deficit better than expected
(VOV) -Surging exports in the latter half of April helped contain Vietnam’s trade deficit for the four months leading up to May to a manageable figure, according to recently released statistics from the General Statistics Office of Vietnam (GSO).
The country’s total export revenue for the January-April period jumped 6.9% on-year to US$49.69 billion while its imports surged 16.6% to US$51.77 billion resulting in a trade deficit of US$2 billion.
The GSO attributes the better than expected figures to a stronger export picture in the latter part of April, resulting in a much smaller deficit than the US$3 billion it had forecast.
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Export revenue took an unanticipated upturn during the second half of April (nearly US$7 billion) with telephones and components, crude oil, garment, footwear and computer revenue tallies showing robust growth.
Meanwhile for the second half of April imports dipped 15.6% to US$6.08 billion. Key imported products witnessing decline were computers, electronic products and components, equipment, tools and telephones.