THE SOCIALIST REPUBLIC OF VIET NAM
Government News
Trade deficit exceeds US$500 million in five months
VGP – Viet Nam’s trade deficit in May was estimated at US$1.3 billion that led to the nation’s trade deficit over the recent five months of the year reaching US$548 million, according to the General Statistics Office.
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The total exports and imports in the first five months of 2019 hit US$202.02 billion, of which US$100.74 billion is gained from exports, up 6.7% compared to the same period last year but lower than the year-on-year increases of 19% and 17.5% in 2017 and 2018, respectively. |
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As many as 19 items join the US$1 billion export club over the recent five months of 2019, making up 84.4% of the total export value. |
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As of the end of May, the U.S. maintains the largest exporter of Viet Nam, witnessing a year-on-year increase of 28%. The export values to other key markets such as the EU, ASEAN, the Republic of Korea and Japan report growths of 1.9%, 5.2%, 8.9% and 4.4%, respectively while Viet Nam’s exports to China decrease 2.6%. |
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A total number of 21 items report the import value exceeding US$1 billion over the recent five months of 2019, accounting for 80.3% of the total import value. |
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China still takes the lead among Viet Nam’s largest import markets with US$29.6 billion, up 18.9%. |
By Thuy Dung