Trade deficit recurs in April

Vietnam experienced a trade deficit of 1 bln USD in April, after enjoying surplus for several months.
Vietnam experienced a trade deficit of 1 billion USD in April, after maintaining surplus for several consecutive months from late 2012.

According to the Ministry of Industry and Trade’s Import-Export Department, last month, the country’s exports reached 9.7 billion USD while its imported amounted to 10.7 billion USD.

In the first four months of 2013, Vietnam earned 39.5 billion USD from exports, up 16.9 percent year-on-year, while importing 40.2 billion USD worth of goods, up 18 percent over the same period last year, resulting in a trade deficit of over 700 million USD.

Experts attributed the trade deficit to increasing imports by domestic firms, mostly of machinery, equipment and materials.

They emphasised the urgent need to control imports and issue suitable policies to develop support industries.

The government should promote investment, especially in projects serving exports and creating products replaceable for imported ones, they suggested.-VNA

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