Business

Capital city trade deficit tops 13 billion USD in 2014

The capital recorded a trade deficit of approximately 13.8 billion USD in 2014, according to the municipal Statistics Office.
The capital recorded a trade deficit of approximately 13.8 billion USD in 2014, according to the municipal Statistics Office.

Hanoi generated 11.07 billion USD from exports, up 11.7 percentyear-on-year, while import value rose 4.3 percent to 24.45 billion USD.

In September alone, the city exported 1.02 billion USD worth of goods,increasing 5.8 percent month-on-month. It spent 2.32 billion USD toimport goods, a rise of 13.7 percent that resulted in a trade deficit of1.3 billion USD.

The capital's key export staples this yearwere computer spare parts and peripherals with turnover of 1.6 billionUSD, up 56.6 percent; garments and textiles with 1.58 billion USD, up20.7 percent and agricultural products with 1.13 billion USD, up 17percent.

Other items recording encouraging export valueincluded petroleum (815 million USD), electronics (443 million USD),glass products (331 million USD), coffee (288 million USD), footwear(249 million USD) and handicrafts (192 million USD).

The city's major export outlets included the US, Japan and China, which together received 38.4 percent of exports.

The city mainly imported petroleum with 5.45 billion USD, steel andiron with 1.18 billion USD, plastic with 772 billion USD, fertiliserwith 342 million USD and chemicals with 333 million USD.

TheMinistry of Industry and Trade's Import-Export Department revealed thatHanoi had the country's biggest trade deficit in 2013 with 13.5 billionUSD, five times higher than southern Ba Ria-Vung Tau province with 2.9billion USD.

Last year, the capital city posted export turnover of 9.9 billion USD and imported 23.4 billion USD worth of goods.-VNA
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