Vietnamplus

Vietnam reported trade deficit of 1.2 billion USD in February, the General Statistics Office (GSO) announced on February 26.

Vietnam ran a trade deficit of 100 million USD in January, after enjoying a trade surplus of billions of USD in 2016.

Cambodia’s trade deficit in 2016 reached 2.2 billion USD as its total trade value hit 21.93 billion USD, up 6.8 percent from 2015, according to the Cambodian Ministry of Commerce.

The task of cuting trade deficit with ASEAN is huge for Vietnam as it involves a wide range of efforts from reforming technology to improving product quality, according to trade officials.

Laos has set goals to achieve an average growth rate of 7.3 percent and GDP of more than 70 billion USD for 2020.

Vietnam spent over 124.86 billion USD on imports, mostly for machinery, equipment, tools, computers, electrolic products and part, and fabric.

Reducing trade deficit with China to progress to trade balance from the market shape one of the major policies and key activities of the Ministry of Industry and Trade (MoIT), an official has said.

Vietnam registered 1.5 billion USD of trade surplus in the first half of 2016.

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.

Vietnam’s exports to China hit 5.8 billion USD in the first five months of 2016, an increase of 16.5 percent year on year, while imports from China fell 3.67 percent to 14.73 billion USD.

Vietnam is predicted to continue running a trade deficit in 2016 that will be under 5 percent of total export revenue, according to the Ministry of Industry and Trade (MoIT).

Vietnam saw a reduction in its trade deficit with China in the first quarter of 2016, raising expectations of an ongoing decline in this deficit for the whole year.

Vietnam enjoyed a trade surplus of 684.6 million USD from mid-January to mid-February with export turnover of more than 17.03 billion USD and import value of over 16.3 billion USD.

The Ministry of Trade and Industry (MoIT) has undertaken numerous measures to boost exports and reduce imports, helping decrease the trade deficit.

Vietnam’s gross domestic product (GDP) is forecasted to expand 6.82 percent in 2016, according to the macroeconomic report for quarter IV, the whole year of 2015 and the outlook for 2016.

The Prime Minister has assigned the Ministry of Planning and Investment (MPI) to allocate 31 percent of gross domestic product (GDP) for social development investment this year.

Vietnam targets ten percent export growth in 2016, said Deputy Minister of Industry and Trade Tran Tuan Anh during a teleconference on December 31.

Vietnam could run up a 4-billion-USD trade deficit for the whole year after three consecutive years of a trade surplus, the Ministry of Industry and Trade (MOIT) said.

Vietnam recorded a trade deficit of 270 million USD in the first half of November, bringing the total number since the beginning of this year to 3.86 billion USD.

The country’s economy is continuing to recover but at a slow and unsustainable pace, with no remarkable changes in growth model, economists said at a conference held in Ho Chi Minh City on November 11