Exports Hit US$6.5 bln in first month

Vietnam pocketed US $6.5 billion in shipping exports in January, posting a month-on-month decrease of 28.5% and year-on-year decline of 11.1%, according to the Ministry of Industry and Trade (MoIT).

 

The MoIT reported that Vietnam spent US $6.6 billion on imports in the reviewed period, showing decreases of 29.5% and 18.7%, respectively.

 

Trade deficit continued to drop from US $270 million last December to about US $100 million in the first month of 2012.

 

Exports declined in revenues were witnessed in the apparel sector with 26.9%; seafood, 39.8%; electronics and accessories, 34.5%; furniture, 27.5%; and rubber, 31.3%.

 

Meanwhile, import items seeing decrease include means of transport and spare parts, 94%; vegetable oil and fat, 52% and metal products, 58%.

 

The MoIT said that in 2012, the Ministry would continue to expand and diversify markets for exports while maintaining and boosting trade promotion activities, particularly programs to help Vietnamese enterprises seek partners and expand export markets and targeting an export growth of 13%.

 

The MoIT said that it would better the provision of information and forecasting related to export markets and technical barriers.

VGP