Trade deficit runs at USD1 bln in 6 months

Vietnam’s trade deficit rose to USD1.06 billion from the beginning of the year to June 15 despite increased exports.

The General Department of Customs reported that Vietnam earned USD55.84 billion from exports, up 15.3%, but imported USD56.9 billion worth of goods, up 15.1%, in the reviewed period.

From June 1–15, Vietnam’s import-export turnover managed USD10.35 billion, falling by 18.3 percent from the second half of the previous month.

Some export commodities declined in value, including phone handsets and spare parts, seafood, footwear, machinery, vehicles and spare parts, computers, electronic products, coffee, and garments.

The USD3.14 billion June 1–15 export value from Foreign Direct Investment (FDI) businesses was 20.4 percent below the second half of May 2013.

The FDI’s total export earnings from January 1 to June 15 added up to USD33.65 billion, a 27.8 percent increase on the same period last year and constituting 60.3 percent of the whole country’s total export value.

Vietnam’s June 1–15 imports were valued at USD5.12 billion, a 17.4 percent fall compared to the second half of May 2013.

Imports of petroleum, computers, electronic products and spare parts, machines, and iron and steel, all declined.

The FDI sector’s June 1–15 import value was US$3.01 billion, down by 13.5 percent against the second half of May 2013.