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Vietnam sees 300 million USD trade deficit in March

Vietnam saw a trade deficit of 300 million USD in March, equivalent to 1.2 percent of the country’s total export- import turnover, according to the General Statistics Office (GSO).
Vietnam saw a trade deficit of 300 million USD in March, equivalent to1.2 percent of the country’s total export- import turnover, accordingto the General Statistics Office (GSO).

GSO statistics also show that exports rose 26 percent to 12 billion USD while imports jumped 22 percent to 12.3 billion USD.

Mostexport items enjoyed higher turnovers than the previous month. Garmentand textile earned 1.6 billion USD from exports, up 53 percent; mobilephones and spare parts brought home 2 billion USD, up 16 percent; andelectronic products fetched 850 million USD, up 37 percent.

Meanwhile, electronic components and machinery equipment topped the listof import items, with over 1 billion USD spent on each group.

The country’s total export earnings in the first quarter of this yearwere estimated at over 33.3 billion USD and its imports were over 32.3billion USD, resulting in a trade surplus of 1 billion USD, or 1.53percent of the total import-export revenue.

Theforeign-invested sector still played a pivotal role with a trade surplusof nearly 4 billion USD, while domestic enterprises faced a tradedeficit of nearly 3 billion USD.-VNA
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