Vietnam sustains a trade deficit of roughly US$1.85 billion in the first half of May, reports the General Department of Vietnam Customs. During the first half of May, the country spent US$11.542 billion on imports but earned only US$9.694 billion from exports, resulting in a trade deficit of roughly US$1.85 billion. By mid-May, the combined trade deficit recorded over US$1 billion as imports amounted to US$89.909 billion, while exports reached only US$88.9 billion. Computers, electronic items and components topped the list of imports with the total value of US$2.22 billion in the first half of May, followed by machinery, equipment, and spare parts with the total turnover reaching US$1.688 billion. Meanwhile, the overseas shipment of computers, electronic products and components raked in over US$18 billion during the first 15 days of May, while machinery, equipment, and spare parts brought home US$13.25 billion. With the combined export value of US$31.25 billion, these categories … [Read more...] about Vietnam’s trade deficit hits US$1 billion by mid-May
Trade deficit w mexico
Indonesia records biggest trade deficit ever in April
A view of Indonesian capital Jakarta (Photo: FIM) Hanoi (VNA) - Indonesia posted its widest monthly trade deficit in history in April as exports plummeted, while the pace of fall in imports was slower than expected. According to data from Refinitiv Eikon data company, the resource-rich country recorded its first trade deficit in three months at 2.5 billion USD in April, also the highest ever to date. Indonesia’s exports in April were at 12.60 billion USD, down 13.10 percent year-on-year, while its imports fell 6.58 percent to 15.10 billion USD. Wisnu Wardana, an economist from Bank Danamon in Jakarta, said the data makes the Bank Indonesia (BI) even less likely to ease monetary policy in the near term. The BI has been pressured to cut interest rates after the US Federal Reserve turned dovish. China, Indonesia's biggest trade partner, contributed 1.9 billion USD to the deficit in April. Indonesia had a 704 million USD surplus in its trade with the US in the same month. … [Read more...] about Indonesia records biggest trade deficit ever in April
Vietnam’s trade deficit is back, but there’s no need to panic
VietNamNet Bridge – Vietnam attained a trade surplus in three consecutive years from 2016 to 2018. However, the trade deficit has returned in the first two months of this year. Associate Professor Pham Tat Thang, senior researcher of the Trade Research Institute under the Ministry of Industry and Trade, speaks to Hải Quan (Customs) newspaper about the deficit. Pham Tat Thang. VNA/VNS Photo Vietnam saw a trade deficit of US$84 million in the first two months of this year, according to the General Statistics Office. What is your comment on that? If we take a look at the general picture of the national economy and its relations with other economies, Vietnam has mostly seen trade deficits. The Government has set the target of balancing imports and exports by 2020. The target was reached in 2017 and 2018. During these two years, Vietnam obtained a major trade surplus. It was a great achievement of the national economy. But in fact, the trade surplus was not … [Read more...] about Vietnam’s trade deficit is back, but there’s no need to panic
Việt Nam’s trade deficit is back, but there’s no need to panic
Viet Nam News Việt Nam attained a trade surplus in three consecutive years from 2016 to 2018. However, the trade deficit has returned in the first two months of this year. Associate Professor Phạm Tất Thắng, senior researcher of the Trade Research Institute under the Ministry of Industry and Trade, speaks to Hải Quan (Customs) newspaper about the deficit. Việt Nam saw a trade deficit of US$84 million in the first two months of this year, according to the General Statistics Office. What is your comment on that? If we take a look at the general picture of the national economy and its relations with other economies, Việt Nam has mostly seen trade deficits. The Government has set the target of balancing imports and exports by 2020. The target was reached in 2017 and 2018. During these two years, Việt Nam obtained a major trade surplus. It was a great achievement of the national economy. But in fact, the trade surplus was not sustainable … [Read more...] about Việt Nam’s trade deficit is back, but there’s no need to panic
Vietnam faces threat of trade deficit in 2019
In January the deficit ballooned to nearly US$1 billion as imports rose by 1.7 per cent to $20.8 billion, according to the General Department of Customs. — VNA/VNS Photo Viet Nam faces a possible return to a trade deficit this year after three years of enjoying surpluses, experts said pointing to the sharp rise in imports and increasing difficulties facing exports. In January the deficit ballooned to nearly US$1 billion as imports rose by 1.7 per cent to $20.8 billion, according to the General Department of Customs. Exports were down by 1.3 per cent to $20 billion. The biggest reason experts think the deficit could be around US$3 billion this year is a sharp increase in import of feedstock and raw materials by many sectors. According to the Ministry of Industry and Trade (MoIT), imports are likely to increase in sectors whose production is still strongly dependent on imported raw materials and equipment and those performing outsourcing. They include leather shoes, textile and … [Read more...] about Vietnam faces threat of trade deficit in 2019