Economic News

Last updated: Wednesday, January 23, 2019


Exports Rise 15.8 Pct in Jan-May

Posted: Monday, June 04, 2018

Vietnam’s trade value was forecast at US$38.9 billion in May, representing a 9.4 per cent growth over April. Of the sum, the export value was US$19.2 billion, up 4.5 per cent, and the import value was US$19.7 billion, up 14.5 per cent.

In the first five months of the year ending May, the country’s trade value reached US$182.8 billion, an increase of 11.9 per cent over the same period of 2017, including US$93.1 billion from exports, up 15.8 per cent, and US$89.7 billion from imports, up 8.2 per cent.

Vietnam ran a trade deficit of US$500 million in May 2018 but enjoyed a trade surplus of US$3.4 billion from January to May. Key exports included telephones and components (US$19.48 billion, up 19.8 per cent), computers, electronics and components (US$10.9 billion, up 14.2 per cent), and textile and apparel (US$10.68 billion, up 13.3 per cent).

Particularly, coffee and crude oil shipments declined. Coffee export fell 12 per cent year on year to US$1.6 billion in the first five months of 2018 while crude oil fell 23.3 per cent to US$886 million year on year.

The state budget revenue was forecast at VND119,750 billion in the first five months of 2018, equal to 42.31 per cent of the full-year estimated value, 40.87 per cent of the full-year target and up 1.25 per cent against the same period of 2017 with VND118,276 billion.

Le Hien

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