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Vietnam Posts Trade Deficit

Vietnam Posts Trade Deficit Vietnam Posts Trade Deficit

Vietnam reported trade deficit of $1.2 billion in February, the General Statistics Office announced late Sunday, bizhub reported. The GSO’s figures revealed that the country’s total import-export turnover this month reached $27.2 billion, of which export turnover was $13 billion, increasing 15.4% from the same period last year, while import turnover was $14.2 billion or a year-on-year rise of 19.6%. However, in the first two months of the year, the country’s total trade deficit was $40 million as total export turnover was $27.34 billion while import turnover was $27.38 billion. The GSO said many exported products saw a sharp decrease in February against the same period last year in terms of value and volume, respectively, such as pepper which declined 27% in value and 7.4% in quantity and rice which declined 21.4% and 18.4%, respectively. Meanwhile, many items posted surge in exports. Coal rose by 1,104% and 466% in terms of value and quantity, respectively and rubber by 144% and 34.7%. Steel, phones, spare parts and machines also saw high export turnover.

 

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