VietNamNet Bridge - Analysts were cautious about the trade surplus of VND2.7 billion in 2016, saying that the figure did not show the entire picture of the national economy. The General Statistics Office (GSO) has released a report saying that Vietnam exported more than imported by $2.68 billion in 2016. Th country saw a trade surplus again after one year of trade deficit. In 2015, the trade deficit was over $3 billion. A trade surplus is always good news for Vietnam economy as it means that the country gets more money than it spends and there is no need to worry about foreign currency supplies. In previous years, Vietnam usually imported more than it exported. As a developing economy, it needed to import machines and input materials in large quantities to run domestic production. Therefore, a trade surplus was always hailed as a great achievement. However, Bui Trinh, a renowned economist, is cautious when talking about this year’s trade surplus as he still sees problems. … [Read more...] about What does the $2.7 billion trade surplus mean?
Uk trade deficit
Britons have voted to leave the European Union, a decision which leaves the world's fifth-biggest economy facing deep uncertainty about its growth prospects and its attractiveness to investors, and which could hurt other economies in Europe and beyond. The vote is expected to deliver at least a short-term hit to growth in Britain and might push it into recession. It could prompt the Bank of England to cut interest rates to zero and test the willingness of creditors to keep on funding Britain's current account deficit. Further ahead, the implications of the vote will depend on what kind of trading relationship Britain can strike with the EU, which accounts for nearly half the country's exports. Below is a summary of the economic implications of the vote: ECONOMIC GROWTH * Britain's economy would grow more slowly outside the EU than if it stayed in, according to a raft of projections made in the run-up to the referendum by the government, the Bank of England, British research institutes, … [Read more...] about Factbox: What Brexit could mean for the UK economy
British visible trade deficit narrowed slightly to 9.1 billion pounds (15.24 billion U.S. dollars) in February, according to figures from the Office for National Statistics (ONS), against 9.5 billion pounds in January. Both imports and export trade value totals fell, with imports declining 2.2 percent month-on-month, about 700 million pounds. Exports decreased by 1.6 percent, about 400 million pounds. "The February outturn casts further doubts on the rebalancing of the UK economy toward export-driven growth," Armela Mancellari, British economist with Barclays Economics Research, said in a note. Continued weak growth in the Britain's largest trade partner the European Union (EU), resulted in a fall in EU-bound exports of 300 million pounds, high compared with the fall of exports to non-EU countries of 100 million pounds. Import values from the EU increased by 300 million pounds, and import values from the rest of the world were driven down 1 billion pounds, mainly because of a … [Read more...] about News Analysis: UK faces exports problem as it seeks broader economic recovery
Although Vietnam's exports to American and European countries manage to exceed its imports, the country's trade situation with Asian nations is the exact opposite which has some economists concerned. Last year, Vietnam's trade deficit reached a new high of 5.5 billion USD. Its trade shortfall with seven Asian countries and territories, including Taiwan, China, Thailand, Hong Kong and Malaysia, was as much as 9.6 billion USD in 2004, according to official figures. Thus, the country's total trade deficit rose although the country experienced a trade surplus of nearly 3.4 billion USD with the U.S. and 1.6 billion USD with the European Union in the last year. … [Read more...] about Vietnam’s wide trade gap with Asia concerning
With Vietnam's imports dipping and exports remaining strong, the government's full-year trade deficit target of US$20 billion could be achieved, Standard Chartered Bank said in its August report. A booming economy means Vietnam needs more steel for constructions … [Read more...] about UK bank remains upbeat about Vietnam’s trade deficit