Vietnam racked up a US$500 million trade deficit in January on the back of a 91% on-year surge in steel imports for the month.
According to Ministry of Industry and Trade, overall the nation’s imports spiked 35.5% on-year to US$13.4 billion in January topped off by a jump in steel exports to a record 1.1 million tonnes.
Other key imports included automobiles, oil, fertilizer, electronics, computers and machinery and equipment.
Meanwhile the nation's cumulative exports for the month jumped 9.7% on-year tallying in at US$12.9 billion, consisting principally of mobile phones and spare parts, pepper, rice, electronics and computers.
Other News
Trending
-
Homeland Spring 2025: Overseas Vietnamese explore investment opportunities
-
Vietnam news in brief - January 17
-
More than 2,000 drones paint Hanoi's landmarks in New Year's skies
-
Hanoi kicks off the Spring Calligraphy Festival in celebration of Lunar New Year
-
Hanoi’s central role means heightened responsibility in foreign affairs: Mayor
-
Hanoi revives historic Tet traditions in Duong Lam Ancient Village
-
AI set to drive Vietnam's economic growth in 2025
-
Two Vietnamese cities in Asia's top five destinations for digital nomads
-
Prime Minister sets vision for Vietnamese football: Asian glory and World Cup dreams