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Vietnam Today

Trade deficit grows

Released at: 21:07, 17/04/2015

Trade deficit grows

March deficit comes in at $1.4 billion, pushing the first quarter deficit out to $2.4 billion.

by Hoai An

According to figures from the General Department of Customs, the total export and import value in the first quarter stood at over $75 billion, up by 14.3 per cent, or $9.41 billion, compared to the first quarter of 2014. The total import and export value of foreign invested enterprises (FIEs) was more than $48.19 billion, an increase of 22.6 per cent, or $8.89 billion, and accounting for 64 per cent of the total value.

Total exports reached $36.3 billion, up 8.8 per cent year-on-year, with FIEs recording $24.53 billion, an increase of 18.7 per cent and accounting for 67.5 per cent of the total.

Key export items included telephones, mobile phones and accessories, with $6.7 billion, textiles with $4.9 billion, computers, electronic products, and components with $3.6 billion, and footwear with $2.6 billion, while means of transport, parts and accessories reached $1.3 billion.

Total imports were $38.7 billion, up 20.1 per cent compared with the first quarter of 2014. Imports by FIEs reached $23.6 billion, an increase of 27.1 per cent and accounted for 61 per cent of the total.

Key import items were machinery, equipment, tools and instruments, with $7 billion, or $2.2 billion higher than in the same period last year, followed by computers and components with $5.6 billion. Telephones and accessories were valued at $2.6 billion, while fabric totaled $2.1 billion.

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