Workers at a garment factory (Photo: VNA)Vietnam spent a total 14.4 billion USD on imports in April, driving downthe monthly trade deficit by 57 percent to 600 million USD.
The April import figure brings the four-month trade deficit to 2.99billion USD, equivalent to 6 percent of exports, which was described as“alarming” by deputy head of the Ministry of Industry and Trade’s Importand Export Department, Tran Thanh Hai, during a monthly meeting inHanoi on April 27.
Of the 13.8 billion USD worth ofgoods exported during the month, 9.3 billion USD (excluding crude oil)was from foreign-invested firms, up a slight 2.2 percent from March and12.9 percent year-on-year.
During the first fourmonths of this year, domestic businesses brought home 15 billion USD, or30 percent of the total. The total export earnings rose 8.2 percent,lower than the 10 percent forecast, with shipments of agro-fisheries,fuels and minerals falling.
Deputy Minister ofIndustry and Trade Nguyen Cam Tu asked the department to ensure that thetrade deficit remains within limits and told them to stimulate exports,especially rice.
On the occasion, the VietnamCoffee – Cocoa Association asked for more preferential loans to farmersand exporters, citing that coffee output tumbled 25 percent due to anongoing drought in the Central Highlands.
Hai alsocalled on local authorities to offer all possible support to farmers andbusinesses, making it easier to boost farm produce consumption.-VNA
