Trade deficit hit US$700 million in first half of July

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The nation’s trade deficit in the first 15 days of July hit US$700 million. Key export items included phones and accessories (US$1.717 billion), garment (US41.55 billion) and computers, electronics and spare parts (US$1.421 billion). 

As of July 15, the nation gained US$133 billion from exporting, up nearly 8% against the same period last year of an increase of US$9.8 billion. 

The nation’s total exports and imports in the first half of 2019 reached US$122.53 billion and US$120.94 billion, witnessing respective growths of 7.2% and 8.9% in the first half of 2019. 

Viet Nam enjoyed the trade surplus of US$1.59 billion in the first six months of 2019. 

To achieve the export growth from 8-10% in 2019 and the export value of US$163 billion for the whole year, the export turnover for each month must attain from US$23-23.4 billion. 

According to the forecasts of the Ministry of Industry and Trade, exports of key commodities such as garments, wood and wooden products will rocket in the second half of the year. 

Remarkably, Viet Nam inked 12 Free Trade Agreements, including new FTAs, which will create new forces for boosting the exports of Viet Nam’s products in the time ahead. 

By Thuy Dung