Seven-month trade deficit exceeds USD3 billion

Friday, 04/08/2017 21:42
Commodity export turnover in July reached an estimated USD115.2 billion, a year-on-year rise of 18.7%, according to the General Statistics Office.

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Of this, domestic economic enterprises made up USD32.2 billion, up 14.6%, and foreign-invested companies (including crude oil) earned USD83 billion, up 20.3%.

Export turnover of some key products continued to rise compared to the same period last year, including telephone and components at USD22.6 billion (up 15%), garments and textiles USD14.2 billion (8.1%), electronics, computer and components USD13.6 billion (43.3%), footwear USD8.4 billion (12.9%), and machinery, equipment and other devices USD6.9 billion (29.5%).

The US continued to be the biggest export market of Vietnamese commodities with a turnover of USD23.4 billion, a year-on-year rise of 9.9%, followed by the EU at USD21.5 billion (up 12.8%) and China at USD15.5 billion (up 42.6%).

Meanwhile, import turnover was estimated at USD118.3 billion, up 24% over a year earlier, in which domestic economic enterprises occupied USD46.9 billion, up 18.4%, while foreign-invested companies earned USD71.4 billion, up 28.1%.

Import value of some products to serve production surged such as machinery, equipment and other devices at USD21.4 billion (up 37.4%), electronics, computers and devices at USD19.2 billion (up 27.4%) and telephone and accessories at USD7.3 billion (up 30.6%).

China was still the biggest market exporting commodities to Vietnam with a turnover of USD31.7 billion, up 15.8%. It is followed by the Republic of Korea at USD26.7 billion, up 50.8%, and ASEAN at USD16 billion, up 19.7%.

Totaling the seven months, Vietnam saw a trade deficit of USD3.08 billion, equaling 2.7% of the total export turnover, in which domestic economic sector had a trade deficit of USD14.77 billion and foreign-invested sector (including crude oil) earned a trade surplus of USD11.69 billion./.

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