The nation’s export turnover decreased in July as exports of major items saw standstills or slight increases.
According to the General Statistics Office, the country earned 5.8 billion USD from exports in July, eight percent less than in June, after two consecutive months of increases.
Gems and gem products dropped from 547 million USD in June to 15 million USD in July.
Other items with large decreases in July were coal, crude oil and footwear.
Exports of garment and textiles and agro-forestry products and seafood increased slightly with the highest increase obtained by cashew nuts (up 5.2 percent over June).
However, the export value of the first seven months of the year hit 38.3 billion USD, a year-on-year increase of 17.5 percent thanks to robust increases in previous months.
Also in seven months, the country imported 45.7 billion USD worth in goods and services, a year-on-year increase of 25.5 percent, bringing the trade deficit to 7.4 billion USD, equal to 19.3 percent of the total export turnover.
The foreign-invested sector had the highest import growth of 46.4 percent. Cotton, metal and means of transport were mostly imported.
In order to boost exports and restrict the trade deficit, the Ministry of Industry and Trade asked sectors to accelerate measures to strengthen exports, expand markets and develop potential markets, with a focus on agriculture and seafood.
The ministry also told enterprises to take advantages of free trade area agreements and boost export of staples with high values, which are not restricted in volumes - like electronics, technology and engineering./.
According to the General Statistics Office, the country earned 5.8 billion USD from exports in July, eight percent less than in June, after two consecutive months of increases.
Gems and gem products dropped from 547 million USD in June to 15 million USD in July.
Other items with large decreases in July were coal, crude oil and footwear.
Exports of garment and textiles and agro-forestry products and seafood increased slightly with the highest increase obtained by cashew nuts (up 5.2 percent over June).
However, the export value of the first seven months of the year hit 38.3 billion USD, a year-on-year increase of 17.5 percent thanks to robust increases in previous months.
Also in seven months, the country imported 45.7 billion USD worth in goods and services, a year-on-year increase of 25.5 percent, bringing the trade deficit to 7.4 billion USD, equal to 19.3 percent of the total export turnover.
The foreign-invested sector had the highest import growth of 46.4 percent. Cotton, metal and means of transport were mostly imported.
In order to boost exports and restrict the trade deficit, the Ministry of Industry and Trade asked sectors to accelerate measures to strengthen exports, expand markets and develop potential markets, with a focus on agriculture and seafood.
The ministry also told enterprises to take advantages of free trade area agreements and boost export of staples with high values, which are not restricted in volumes - like electronics, technology and engineering./.
