Thursday, July 19 2018

VietNamNews

Trade deficit touches $1.2b in Feb

Update: February, 22/2014 - 10:30
Workers at Phu Hoa An Garment and Textile Company in the central province of Thua Thien-Hue on a production line for exports. Viet Nam saw a decline of 38.3 per cent in the total export value to $3.66 billion in the first half of February against the second half of January. — VNA/VNS Photo Danh Lam

HA NOI  (VNS) — The national trade deficit was US$1.2 billion in the first half of February as the total export value was $3.66 billion and total import value was $4.86 billion.

Even so, the General Customs Office reported, the nation gained a trade surplus of $622 million in the period between January 1 and February 15 this year.

The trade value in the first half of this month reached $8.52 billion, a decline of 17.9 per cent against the second half of January, but an increase of 64.7 per cent compared with the same period last year.

It made the total trade value between January 1 and February 15 this year amount to $30.31 billion, a surge of 11 per cent compared with the same period last year.

Viet Nam saw a decline of 38.3 per cent in the total export value to $3.66 billion in the first half of February against the second half of January. But the value during the first 46 days of this year made a year-on-year rise of 7.4 per cent or $15.47 billion.

The General Customs Office said the sharp reduction in the total export value in the first half of February was due to fall in the export value of key products, including textile and garment ($700 million), telephone and components ($223 million), footwear ($169 million), seafood ($144 million), wood and wooden products ($140 million), machines and components ($111 million), computers, electronic products and components ($111 million) and crude oil ($110 million).

The value of exported goods by FDI enterprises accounted for 63.6 per cent of the total national value in the first half of February, which was a fall of 36 per cent or $2.33 billion against the second half of January.

Meanwhile, the total national import value in the first half of February saw a surge of 9.4 per cent or $4.86 billion compared with the value in the second half of January. The total value in the first 46 days of this year was $14.85 billion, a rise of 15 per cent year-on-year.

Some key products saw higher import values, including steel at $119 million, machines, equipment and tools at $79 million and textiles at $60 million.

The products whose import values fell included electronic components at $107 million, petrol and oil at $263 million and soybean at $33 million.

During the first half of February, FDI firms saw a surge of 21.8 per cent in the import value of goods to reach $2.9 billion, compared with the second half of January, accounting for 59.7 per cent of the total national import value.

During the first 46 days of this year, FDI firms chalked $9.76 billion in export value and $8.5 billion in import value. Therefore, while they gained a trade surplus of $1.26 billion in the said period, there was a trade deficit of $575 million in the first half of February. — VNS


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