Last updated: Wednesday, February 22, 2017
January Records Trade DeficitPosted: Friday, February 03, 2017
Vietnam ran a trade deficit of US$100 million in January, after enjoying a trade surplus of billions of USD in 2016.
In the first month of 2017, the country imported US$14.7 billion and exported US$14.6 billion worth of commodities, down 14 per cent and 12 per cent compared to the figures for December 2016, respectively.
A number of major hard currency earners saw a drop in revenue in comparison with December. Phones and components felt 7.1 per cent to US$2.5 billion, apparel, down 10.8 per cent to US$2.05 billion and computers and electronic devices, down 14.1 per cent to US$1.6 billion.
A similar downward trend was seen in imports of key goods, with machinery and spare parts reporting a decrease of 15.3 per cent to US$2.6 billion, while computers and electronic devices and petroleum products faced a respective drop of 10.3 per cent and 32.7 per cent from December of 2016 to US$2.25 billion and US$510 million.
The Ministry of Industry and Trade is implementing a programme on sustainable exports, which puts forth measures to restructure the market and boost product competitiveness.
The programme also highlights product quality improvement, trade promotion and market expansion.