Trade deficit reaches $456m

Saturday, Aug 24, 2013 11:28

Nam Ha Garment Co workers make clothes for export. Garment and textile exports brought home $861 million in the first half of this month. — VNA/VNS Photo Vu Sinh

HA NOI (Biz Hub) — Viet Nam is estimated to have seen a US$456 million trade deficit in the first half of this month, according to Viet Nam Customs.

The country exported $5.47 billion worth of goods, of which foreign direct investment (FDI) enterprises contributed $3.2 billion, accounting for 60 per cent of the whole country's export value in the period.

In the first half of this month, Viet Nam mainly exported garments and textiles worth $861 million, computers, electronic products and components ($454 million), crude oil ($336 million) and seafood ($295 million).

Imports of goods and services amounted to $5.93 billion, representing a 3.7 per cent decrease over the first half of last month.

Key imported products were computers, electronic products and components worth $704 million, clothes ($328 million), petrol ($280 million), steel ($259 million) and plastic materials ($247 million).

From January 1 to August 15, the country's total import-export revenue was $158.38 billion, an increase of 16 per cent over the same period last year.

Of the total, exports were estimated at $78.75 billion, an increase of 15.4 per cent. This met 62.5 per cent of the $126 billion plan for the year set by the National Assembly.

The country imported $79.64 billion worth of goods and services, increasing 16 per cent over the same period last year, making a trade deficit of $888 million in the period.

FDI enterprises' export turnover in the period was $47.56 billion, increasing 27 per cent over the corresponding period last year.

Viet Nam plans to incur a $9 billion trade deficit this year. — VNS

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