Trade deficit hits 250mln USD in Q1
The country was estimated to face a trade deficit of 150 million USD in
March, lifting the total figure in the first quarter to 250.9 million
USD, the General Statistics Office (GSO) reported.
The trade deficit in the first three months was equal to 1.02 percent of the country's export revenue in the period.
The GSO revealed that with March's export turnover of 9.15 billion USD, the country's total export value in the first quarter increased 23.6 percent over the same period last year to 24.5 billion USD.
The trade deficit in the first three months was equal to 1.02 percent of the country's export revenue in the period.
The GSO revealed that with March's export turnover of 9.15 billion USD, the country's total export value in the first quarter increased 23.6 percent over the same period last year to 24.5 billion USD.
The country was estimated to face a trade deficit of 150 million USD in
March, lifting the total figure in the first quarter to 250.9 million
USD, the General Statistics Office (GSO) reported.
The trade deficit in the first three months was equal to 1.02 percent of the country's export revenue in the period.
The GSO revealed that with March's export turnover of 9.15 billion USD, the country's total export value in the first quarter increased 23.6 percent over the same period last year to 24.5 billion USD.
Excluding crude oil, garments and textiles as well as seafood and coffee remained the country's key export staples in the January-March period. Textiles and garments made up 3.23 billion USD of the nation's total export earnings, up 15.4 percent over the same period last year. The export value of seafood also surged 11.7 percent to 1.26 billion USD. Despite a decrease of 11.8 percent, coffee exports still earned 1.06 billion USD.
The country, meanwhile, spent 9.3 billion USD for imports in March, up 8.1 percent over the previous month. March's result raised the first quarter's import value to 24.77 billion USD, up 6.9 percent year-on-year.
Main imported products in the period included petroleum products at 2.02 billion USD, down 19.7 percent on year; clothes at 1.3 billion USD, down 11.1 per cent; plastics at 1.09 billion USD, up 0.1 percent; iron and steel at 1.45 billion USD, up 7.7 percent; and electronic products-computers-spare parts at 2.66 billion USD, up 103.4 percent.
The country targets to keep its trade deficit at roughly 13 billion USD this year, or at 12 percent of total export revenue. The nation's trade deficit last year stood at 9.5 billion USD.-VNA
The trade deficit in the first three months was equal to 1.02 percent of the country's export revenue in the period.
The GSO revealed that with March's export turnover of 9.15 billion USD, the country's total export value in the first quarter increased 23.6 percent over the same period last year to 24.5 billion USD.
Excluding crude oil, garments and textiles as well as seafood and coffee remained the country's key export staples in the January-March period. Textiles and garments made up 3.23 billion USD of the nation's total export earnings, up 15.4 percent over the same period last year. The export value of seafood also surged 11.7 percent to 1.26 billion USD. Despite a decrease of 11.8 percent, coffee exports still earned 1.06 billion USD.
The country, meanwhile, spent 9.3 billion USD for imports in March, up 8.1 percent over the previous month. March's result raised the first quarter's import value to 24.77 billion USD, up 6.9 percent year-on-year.
Main imported products in the period included petroleum products at 2.02 billion USD, down 19.7 percent on year; clothes at 1.3 billion USD, down 11.1 per cent; plastics at 1.09 billion USD, up 0.1 percent; iron and steel at 1.45 billion USD, up 7.7 percent; and electronic products-computers-spare parts at 2.66 billion USD, up 103.4 percent.
The country targets to keep its trade deficit at roughly 13 billion USD this year, or at 12 percent of total export revenue. The nation's trade deficit last year stood at 9.5 billion USD.-VNA
You should also see
Investor confidence gains traction on improved business climate
Better investment climate, with simplified administrative producers and special incentives, has helped improve investor confidence, thus catalysing investments from a wider pool of both domestic and international investors for socio-economic development.
See more
Business
Labels on foods exported to Singapore must be accurate: Trade counselor
Counsellor Cao Xuan Thang, head of the Vietnam Trade Office in Singapore, has advised Vietnamese exporters to pay attention to labeling pre-packaged food products to ensure their credibility and image of businesses when exporting to the Singaporean market.
Business
April 25 gold bullion auction cancelled
The State Bank of Vietnam (SBV) has announced that it canceled the gold bullion auction scheduled for April 25 morning as only one business submitted its bidding form.
Business
High airfares create chance for short-distance trips for Reunification Day holiday
Due to a hike of air ticket prices for domestic flights, Vietnamese tourists are turning to short-distance trips for the upcoming National Reunification Day (April 30) and May Day (May 1) holidays.
Business
Phu Yen, Ninh Thuan attractive to energy project developers
The south-central coastal provinces of Phu Yen and Ninh Thuan have become attractive destinations for investors operating in the energy industry thanks to great potential for renewable energy development.
Business
Petrovietnam posts 9-billion-USD revenue in Q1
The Vietnam National Oil and Gas Group (Petrovietnam) saw total estimated revenue of 231 trillion VND (9 billion USD) from production and business activities in the first quarter of 2024, exceeding the set quarterly plan by 33% and up 19% year-on-year, head a conference held by the group recently.
