Thursday, December 13 2018

VietNamNews

H1 trade surplus reaches $1.3 billion

Update: June, 24/2014 - 09:12
The rubber exports turnover increased by 38 per cent to touch $44 million; garments and textile rose by 13 per cent to reach $206 million; and that of wood and wood products posted a 14 per cent increase to reach $63 million.— VNA/VNS Photo Tran Vỉet

HA NOI (VNS)  — The country's trade deficit was estimated at US$200 million in June, with the total export turnover being $12.1 billion and that of imports being $12.3 billion.

Statistics from the General Statistics Office showed that the total export turnover in the first half of the year would reach $70.9 billion, posting a 15 per cent year-on-year increase, while the total import turnover would be $69.6 billion, an increase of 11 per cent year over year.

The country saw a trade surplus of $1.3 billion in the six-month period.

Foreign direct investment (FDI) businesses (including crude oil) dominated the trade activities compared with domestic firms, according to the office.

The sector saw a high trade surplus of $8.5 billion, while the domestic companies reported a trade deficit of $7.2 billion in the first half of the year.

In June, the total export turnover was reduced by 2.5 per cent over the previous month, staying at $12.1 billion.

Some products saw an increase in export turnover in June. The rubber exports turnover increased by 38 per cent to touch $44 million; garments and textile rose by 13 per cent to reach $206 million; and that of wood and wood products posted a 14 per cent increase to reach $63 million.

The FDI sector also took the lead in terms of import turnover during the period, with an increase of 12 per cent, while that of domestic firms was 10 per cent.

The import of items used for assembly was still high year over year. The import turnover of machines and equipment and spare parts rose by 22 per cent to reach $1.9 billion; that of phones and spare parts rose by 6 per cent to touch $237 million; metals' import turnover rose by 17 per cent to amount to $244 million; garment material increased by 28 per cent to touch $515 million and that of cloth rose by 18 per cent to a total of $72 million.

The office said that this was a positive sign which reflected the recovery of domestic production activities. However, Vietnamese enterprises have not been active in production as the imports mainly served the assembly activities of the FDI sector. — VNS

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