Business

Vietnam sees trade deficit in first two months

Vietnam experienced a trade deficit of 61 million USD in the first two months of 2015, compared to a 1.35 billion USD surplus in the same period last year, according to the Ministry of Industry and Trade.
Vietnam experienced a trade deficit of 61 million USD in the first twomonths of 2015, compared to a 1.35 billion USD surplus in the sameperiod last year, according to the Ministry of Industry and Trade.

The deficit was the result of a trade surplus of 2.01 billion USD,including crude oil, in FDI enterprises and a 2.07 billion USD deficitin the domestic sector.

Experts said the return of atrade deficit after a long period of surplus does not indicate aneconomic downturn, as it is normal for a developing country like Vietnamto have elevated rates of imported materials for production. Theincrease in imports is expected to stimulate the economy on the basis ofvalid free trade agreements.

The ministry saidbesides measures to boost exports, the business community must also seeknew and potential export markets for Vietnamese commodities.-VNA
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