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Feb 02, 2015 / 14:13

Vietnam trade deficit swells in January

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.