Trade Deficit Shrinks to US$50 Million November
Vietnam’s trade deficit fell to US$50 million this month from US$166 million in October, according to the Ministry of Industry and Trade (MOIT).
In November, export revenues reached US$10.2 billion, down 1.18 percent on the previous month while imports rose slightly to US$10.25 billion.
During the 11-month period from January to November, exports rose 18.4 percent year on year to US$104 billion, exceeding imports by US$14 million.
Foreign-invested companies, excluding oil firms, made up 55.6 percent of the total export value.
The garment and textile sector posted the strongest growth with US$13.78 billion, followed by phones and spare parts with US$11.4 billion.
In November alone, garment and textile exports hit US$1.3 billion, while shipments of mobile phones and spare parts rose by US$1.35 billion.
Computers and electronics earned Vietnam US$790 million while fishery products and transport vehicles reached US$550 million and US$340 million respectively.
Crude oil, one of Vietnam’s key exports, also gained US$805 million in November.
According to the MOIT, falling imports in the final months of the year have helped improve the country’s balance of trade.
Nhan Dan Online
Vietnamese
