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 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.
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 deficit in the domestic sector.
Experts said the return of a trade deficit after a long period of surplus does not indicate an economic downturn, as it is normal for a developing country like Vietnam to have elevated rates of imported materials for production. The increase in imports is expected to stimulate the economy on the basis of valid free trade agreements.
The ministry said besides measures to boost exports, the business community must also seek new and potential export markets for Vietnamese commodities.-VNA
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 deficit in the domestic sector.
Experts said the return of a trade deficit after a long period of surplus does not indicate an economic downturn, as it is normal for a developing country like Vietnam to have elevated rates of imported materials for production. The increase in imports is expected to stimulate the economy on the basis of valid free trade agreements.
The ministry said besides measures to boost exports, the business community must also seek new and potential export markets for Vietnamese commodities.-VNA
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