Trade deficit of US$200 million recorded in January

Tuesday, 02 February 2016
Viet Nam saw a trade deficit of US$200 million in January 2016, equivalent to 1.4% of its total export value, according to the statistics of the General Statistics Office.

The State sector announced a trade deficit of US$1.8 billion while the foreign-invested sector reported a trade surplus of US$1.6 billion (including crude oil).

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The nation gained US$13.8 billion from exports, up 0.5% compared to the previous months and up 2.2% against the same period last year.

Exports witnessing sharp increases included rice up 62.2%, aquatic products up 10.3%, electronics and spare parts up 10.1%, footwear up 7.5%, garments up 5.8%, timber up 3.4% and phones and accessories up 2.4%.

The U.S. was the largest importer of Viet Nam in January with US$3.1 billion, a year-on-year increase of 17.3%. It was followed by the EU with US$2.7 billion, up 1.8%, China with US$1.7 billion up 24.3%, ASEAN with US$1.5 billion, down 12.4%, Japan with US$1.3 billion, up 11.5% and the Republic of Korea with US$750 billion, up 12.8%.

The import turnover saw a year-on-year decrease of 0.8%, reaching US$14 billion.

In 2015, the trade deficit attained US$3.5 billion, accounting for 2.2% of the export turnover.

Van Hai (Source: VGP)

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