>> Trade deficit narrows in first quarter
The Ministry of Industry and Trade has issued a list of nearly 100 products that should not be imported, including milk and certain vehicles.
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| Milk import value surged in the first quarter of this year |
The import of fresh and powder milk, butter, automobiles, including golf cars and vehicles that are not within the range of 1,800cc to 2,500cc, have been discouraged.
Other products on the list include poultry, meat, fish, crustaceans, vegetables and many others.
This is a reaction by the local government to protect the national foreign currency reserves which have been at a low level.
According to the Ministry of Industry and Trade, in the first two months of this year, the import value of products, which also include tobacco, wine and cosmetics, has reached nearly USD1.1 billion. The figure accounted for 7.4% of the country’s total import value during the period. This is a rise of 24.8% year-on-year.
The trade deficit in the first quarter of this year was reduced to USD3.028 billion, compared USD3.5 billion in the same period last, said the General Statistics Office.
