In the first months of the year, enterprises ramped up their imports of input materials and spare parts to meet their production and export demands for later months
Index of Industrial Production for August has ped by 4.2 per cent from July, and a 7.4 per cent decrease year-on-year. However, IIP for the year so far has increased by 5.6 per cent year-on-year.
According to trade experts, the above-mentioned trade deficit was not a worrisome figure as enterprises ramped up their imports of input materials to meet their production demands.
The Regional Comprehensive Economic Partnership (RCEP) would not worsen trade deficit Viet Nam was running with signatory markets, according to the Ministry of Industry and Trade.
Only two groups of products posted an export turnover of at least $1 billion during the period including computers, electronics and components at some $1.5 billion and telephones and parts at $1 billion. That have brought export earnings of these products...
Viet Nam reported an estimated trade deficit of US$176 million in the first two months of the year, according to the General Statistics Office of Vietnam (GSO).
Viet Nam had a trade deficit of more than US$1 billion with Australia last year, one year after the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) came into effect.
In the first half of July, Viet Nam''s export revenue exceeded US$10.5 billion and its import value topped $11.18 billion, resulting in a trade deficit of nearly $700 million.
Viet Nam recorded a trade deficit of US$1.3 billion in May, resulting in a total deficit of $548 million for the first five months of the year, according to General Statistics Office (GSO)s monthly report.
Vietnamese companies should further invest in and trade with ASEAN member countries like Myanmar, Thailand, Laos, and Cambodia, a forum heard in HCM City on Thursday.