Vietnam reports 177 million USD trade deficit in May
Vietnam saw a trade deficit of 177 million USD in May after two months enjoying slight surplus, according to statistics from the General Department of Vietnam Customs.
Shrimp processing for exports (Photo: VNA)Hanoi (VNA) – Vietnam saw a trade deficit of 177 million USD in May after two months enjoying slight surplus, according to statistics from the General Department of Vietnam Customs.
The country shipped 14.37 billion USD worth of products to foreign countries (up 0.1 percent) while imports ballooned to 14.55 billion USD (up 3.4 percent) in the month.
During the first five months of this year, Vietnam’s foreign trade totalled 133.25 billion USD, a year-on-year increase of 2.2 percent. The national balance of trade saw a surplus of 1.64 billion USD with export turnover at 67.44 billion USD and import value at 65.8 billion USD.
Foreign-invested enterprises posted 8.34 billion USD in trade surplus while domestic businesses ran a trade deficit of nearly 6.7 billion USD.-VNA
You should also see
VNA marks 70th anniversary of Dien Bien Phu Victory with various activities
The Vietnam News Agency (VNA) hosted an array of activities to celebrate the 70th anniversary of the Dien Bien Phu Victory (May 7, 1954 - 2024).
See more
Business
Hanoi to host Vietnam Medipharm Expo 2024
The 31st Vietnam International Medical and Pharmaceutical Exhibition (Vietnam Medipharm Expo 2024) is scheduled to take place in Hanoi from May 9 to 12, an official of the Ministry of Health (MoH) told a press conference on April 19.
Business
Japan's Takashimaya plans to expand investment in Vietnam
Takashimaya, a Japanese operator of upscale department stores, plans to open a shopping centre in Hanoi in 2026 that will be the company's first new location abroad in eight years, Japanese newspaper Nikkei reported.
Business
Localities get ready for fourth FDI boom
As the year 2024 is expected to witness the start of the fourth wave of foreign direct investment (FDI) to Vietnam, localities nationwide are getting ready to absorb foreign capital flows.
Business
Vietnam earns 1.43 billion USD from rice exports in Q1
ietnam in the first quarter of 2024 exported 2.18 million tonnes of rice, earning 1.43 billion USD, an increase of 17.6% in volume and 45.5% in value year on year. Meanwhile, the average export rice price also increased by 23.6% to $653.9 per tonne.
Business
Old loans must endure higher interest rates temporarily: central bank
The average lending interest rate for new loans by commercial banks is reported at around 6.4% per year, a decrease of 0.7 percentage point per year compared to the end of last year. However, borrowers with loans issued before the latest rate adjustment still must pay higher rates, according to the State Bank of Vietnam (SBV).
