7-month trade deficit runs at US$277 million

(VOV) – Despite recent considerable export growth, the national economy slipped into a trade deficit of US$277 million in the first seven months of this year, according to Vietnam Customs.

The figure is still far below the General Statistics Office’s (GSO) US$733 million estimate.

Vietnam Customs reported that the country’s total 7-month import-export value reached US$146.91 billion, a year on year increase of 15.2%.

Export earnings rose 15.2% to 73.32 billion, and imports also grew by 15.2% to US$73.55 billion.

In July alone, Vietnam achieved an export surplus of US$379 million, or US$179 million more than the GSO’s earlier estimate.

In seven months, mobile handsets and spare parts topped the list of export items, earning US$11.5 billion, followed by garments (US$9.7 billion), computers, electronics and spare parts (US$5.78 billion), crude oil (US$4.27 billion), and seafood (US$3.41 billion).

Foreign direct investment (FDI) businesses raked in US$44.3 billion from exports, increasing 27.2% year on year and accounting for 60.4% of the country’s total export value.