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Mar 21, 2014 / 16:12

Trade deficit decreases in first half of March

Vietnam faced a trade deficit of US$279 million in the first half of March, largely attributable to foreign businesses’ huge imports.

Vietnam Customs statistics show the country’s total import-export turnover edged up 4.4% to US$11.66 billion in the reviewed period.

Of the value figure, export turnover dipped 3.9% to US$5.69 billion while imports jumped 13.7% to US$5.96 billion.

With an import surplus of US$120 million, the foreign business sector made up nearly half of the country’s total trade deficit.

Vietnam’s import and export value totalled US$52.94 billion from January 1 to March 15, of which exports accounted for nearly US$ 26.98 billion.

Machinery, equipment and tools topped the list of import items, raking in US$3.9 billion, followed by computer and components (US$3.3 billion) and petroleum (US$1.77 billion).

Meanwhile, key export commodities included telephone and spare parts (US$4.4 billion), garment and textiles (US$3.6 billion), and computers, electronic products and components (US$1.77 billion).