Vietnam reports 177 million USD trade deficit in May
Vietnam saw a trade deficit of 177 million USD in May after two months enjoying slight surplus, according to statistics from the General Department of Vietnam Customs.
Hanoi (VNA) – Vietnam saw a trade deficit of 177 million USD in May after two months enjoying slight surplus,🥂 according to statistics from the General Departmenꦏt of Vietnam Customs.
The country shipped 14.37 billion USD worth of products to foreign countries (up 0.1 percent) while imports ballooned to 14.55 billion USD (up 3.4 percent) in the month.
During the first five months of this year, Vietnam’s foreign trade totalled 133.25 billion USD, a year-on-year increase of 2.2 percent. The national balance of trade saw a surplus of 1.64 billion USD with export turnover at 67.44 billion USD and import value at 65.8 billion USD.
Foreign-invested enterprises posted 8.34 billion USD in trade surplus while domestic businesses ran a trade deficit of nearly 6.7 billion USD.-VNA
Vietnam’s total exports saw a year-on-year increase of 6 percent in the first four months of this year to 52.87 billion USD, according to the General Statistics Office (GSO).
Vietnam leads ASEAN members in bilateral trade revenue with Canada, with the figure hitting 928.97 million USD in the first quarter of 2016, up 11.8 percent year-on-year.
Vietnam generated more than 67.7 billion USD from exports in the first five months of this year, surging 6.6 percent against the same period last year, according to the General Statistics Office (GSO)
Vietnam is predicted to continue running a trade deficit in 2016 that will be under 5 percent of total export revenue, according to the Ministry of Industry and Trade (MoIT).
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Shrimp processing for exports (Photo: VNA)
