Trade deficit hits US$100 mln in January
19:16 | 11/02/2014
VGP – Viet Nam’s export and import in January reached US$10.3 billion and US$10.4 billion, respectively, generating a trade deficit of US$100 million.
According to the Ministry of Industry and Trade (MIT), export of the domestic sector and the Foreign Direct Investment (FDI) sector was US$3.52 billion and US$6.78 billion, respectively.
 
The sales of farm and aquatic products abroad saw a decrease of 15.8% compared to December 2013 and down 21.3% in comparison with the same period last year, obtaining US$1.51 billion.
 
Viet Nam earned US$657 million from materials and minerals and US$7.25 billion from processed items.
 
Import made by the domestic sector and the FDI sector reached US$4.6 billion, down 2.3% and US$5.8 billion, down 1.5%, respectively.  
 
Due to the long Lunar New Year festival, export sharply decreased, stated a  MIT representative. However, the FDI sector continues to improve the trade balance.
 
To achieve the set export goal of US$ 140 billion in 2014, which is up 10% from 2013, the MIT proposed improving the quality and competitiveness of products, especially establishing a mechanism and policy for the sales of  agricultural and aquatic products.  
By Thuy Dung
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