Trade deficit hits US$2.74 bln in four months

VGP – Viet Nam faced a trade deficit of US$2.74 billion in the first four months of 2017, equal to 4.5% of the total export turnover, according to the General Statistics Office.

May 03, 2017 10:54 AM GMT+7

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The trade deficit in March and April was estimated at US$1.1 billion and US$800 million.

The State sector made a trade deficit of US$8.49 billion while the foreign-invested sector announced a trade surplus of US$5.75 billion.

Viet Nam gained US$61.3 billion from exporting, a year-on-year increase of 15%. The export value of the foreign-invested sector saw an increase of 2.5 times in comparison with that of the State sector.

The U.S. remained the largest importer of Viet Nam in the first four months with US$11.9 billion, up 3.7%. It was followed by the EU US$11.3 billion, China US$8.6 billion, ASEAN US$6.7 billion (up 26%), Japan (US$5.2 billion) and the Republic of Korea (RoK) US$4.4 billion.

Viet Nam’s import turnover reached US$64.1 billion in four months, up 24.9 %. The imports of the State and foreign-invested sectors released respective figures of US$25.8 billion and US$38.3 billion.

China was the largest exporter of Viet Nam with US$17.6 billion in four months, up 19.4%. The RoK and ASEAN occupied the second and third positions with US$13.7 billion and US$8.9 billion, respectively.

By Thuy Dung