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Vietnam Today

Trade deficit blowing out

Released at: 11:53, 26/05/2015

Trade deficit blowing out

$1.9 billion deficit in first half of May in line with 2015 trend.

by Luong Nhi

Vietnam recorded a trade deficit of $1.9 billion in the first half of May, bringing the year-to-date figure as at May 15 to $3.7 billion, Vietnam Customs announced. Total export turnover in first half of the month stood at $6.31 billion, with foreign enterprises contributing $4.3 billion.

Export turnover comprised $123.2 million for crude oil, $1.17 billion for mobile phones and accessories, $638.8 million for computers and electronic devices, $567.2 million for footwear, and $771.8 million for textiles.

Import turnover, meanwhile, was $8.186 billion, of which $4.9 billion belonged to foreign enterprises.

Petrol imports were worth $247.8 million, plastics $309.2 million, fabric $628 million, steel $391 million, machinery, tools and devices $1.45 billion, and computers and electronic devices $1.11 billion.

From January to May 15 total export turnover stood at $56.08 billion against total import turnover of $59.78 billion, for a trade deficit of some $3.7 billion.

In the first four months the deficit was $2.07 billion, according to a Vietnam Customs report released on May 14.

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