Vietnam runs trade deficit of 2.7 billion USD in five months
Vietnam posted a trade deficit of nearly 2.7 billion USD this year to the end of May, equal to 1.7 percent of the country’s total export turnover.
Goods are unloaded up Sai Gon Port (Photo: VNA)Hanoi (VNA) – Vietnam posted a trade deficit of nearly 2.7 billion USD this year to the end of May, equal to 1.7 percent of the country’s total export turnover.
According to the Vietnam Customs, the total import-export turnover in the first five months of this year was estimated at 161.28 billion USD, a year-on-year increase of 20.7 percent.
Of which, the export turnover hit 79.3 billion USD, up 17.4 percent, while the import turnover reached 82 billion USD, up 23.9 percent.
Among key export products, phones and spare parts brought home 16.05 billion USD, a yearly rise of 12 percent, while garment-textile products earned 9.4 billion USD, a year-on-year increase of 9 percent.
The import turnover of machinery, equipment, and components grew by 38.8 percent to top 15 billion USD, and that for phones and spare parts rose by 23.4 percent to reach over 5 billion USD.-VNA
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