Vietnam records trade deficit in first half of February

26-Feb-2020 Intellasia | VNS | 6:02 AM Print This Post

Vietnam recorded a trade deficit of $30 million in the first half of February, according to the general Department of Customs.

The nation’s total trade value in the first half of this month was $19.23 billion, an increase of 32 per cent compared to the second half of January and 3.3 per cent year-on-year, the general department reported.

Of which, the export value rose by 30 per cent year-on-year to $9.6 billion, including $6.78 million from foreign direct investment (FDI) enterprises.

Therefore, Vietnam saw total export value increase by 5.4 per cent year-on-year to $27.86 billion for the period from January 1 to February 15. Of which, the export value of FDI enterprises was $18.5 billion.

Products gaining high growth rate in export value during this period included all kinds of telephones and their components; computers, electronic products and components; textiles; machinery, equipment, tools; and shoes.

Meanwhile, Vietnam’s import revenue in the first half of February reached $9.62 billion, up 33.7 per cent compared to the second half of January, including $5.8 billion from FDI firms.

This figure brought the total import value to $28.27 billion in the period from the first day of this year until February 15, down 1.3 per cent year-on-year.

There were two groups of goods with import value of more than $1 billion in the first half of February, including computers, electronic products and their components ($2.3 billion) and the group of other machines, equipment, tools and spare parts ($1.3 billion), said the general department.


Category: Economy, Vietnam

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