Trade deficit of US$1.8 bln in Q1

17:25 | 01/04/2015

VGP – Viet Nam posted a trade deficit of US$1.8 billion in the first quarter of 2015, according to the General Statistics Office.

EU-largest importer of Vietnamese goods

Viet Nam gained US$12.7 billion from exporting in March, up 33.5% compared to the previous month and a year-on-year increase of 4.2%, bringing the export turnover in the first quarter of 2015 to US$35.7 billion, a year-on-year increase of 6.9%.

The State and foreign-invested sectors contributed US$10.6 billion and US$25.1 billion, down 5.1% and up 12.9%, respectively.

Exports of goods iproduced by the heavy and mineral industry as well as the light industry and handicraft sector witnessed increases of 13.1% and 8.9%, reaching US$16.4 billion and US$14.2 billion, respectively.

Meanwhile, the exports of farm, forestry and aquatic items faced decreases of 10.6% and 19.8%, attaining US$3.8 billion and US$1.3 billion, respectively.

The EU was the largest importer of Vietnamese commodities, making an import turnover of US$6.92 billion, up 14.2%.

China-largest exporter to VN

Viet Nam’s import turnover in the first quarter of 2015 obtained US$38.5 billion, a year-on-year increase of 19.4%.

Some items saw high growth rate in import turnover such as cars with US$1.1 billion, up 73.6%, machines, tools and equipment with US$15 billion, up 20%, materials with US$19.4 billion, up 13.2% and other commodities with US$3.1 billion, up 19.2%.

China ranked first among exporters to Viet Nam with US$11.6 billion, up 31.5% against the same period last year.

The trade deficit from China was estimated at US$8.1 billion, up 58.5%.

By Thuy Dung