Figure 1.5% of exports, according to GSO.
January’s trade deficit has been estimated at $200 million, or 1.5 per cent of exports, by the General Statistics Office (GSO). Domestic businesses will record a deficit of $1.8 billion while foreign-invested businesses (including crude oil) will be in surplus, by $1.6 billion.
Total exports in January are estimated at $13.8 billion, a 0.5 per cent increase compared to December and 2.2 per cent higher than in January 2015.
Exports of some commodities grew significantly compared to January last year, with rice increasing 62.2 per cent, seafood 10.3 per cent, and electronic components 10.1 per cent.
The US remained Vietnam’s largest export market during the month, with $3.1 billion, a 17.3 per cent increase compared to January 2015. Following was the EU, China, and ASEAN, with $2.7 billion (1.8 per cent higher), $1.7 billion (24.3 per cent higher), and $1.5 billion (12.4 per cent lower), respectively.
Total imports in January are estimated at $14 billion, down 2.1 per cent against December and 0.8 per cent against January 2015.
Commodities seeing strong declines compared to January 2015 were special vehicles and components, by 80.8 per cent, fuel 17.6 per cent, steel 16.3 per cent, and textiles 13.3 per cent.
China was still the largest source of imports, with $4.4 billion, a 0.4 per cent increase compared to January 2015. Following were South Korea with $2.2 billion (1.8 per cent higher), ASEAN $2 billion (2.8 per cent higher), and Japan $1.2 billion (1.1 per cent higher).
Vietnam recorded a trade deficit of $3.5 billion in 2015, or 2.2 per cent of exports, after three consecutive years of recording a trade surplus.