Illustrative photo (Photo: VNA) Hanoi (VNA) – Vietnam posted a trade surplus ofnearly 430 million USD in the second half of July, after many consecutivemonths of deficit.
According to the General Department of Customs, from July16-31, the country’s total export turnover reached 9.41 billion USD, up 14.1percent compared to the first half of this month.
Meanwhile, total imports were valued at 8.98 billion USD, arise of 6.5 percent compared with the figure in the month’s first half.
Taking into account the trade surplus in the second half ofJuly, Vietnam ran a trade deficit of 2.53 billion USD in the first seven monthsof 2017, equal to 2.2 percent of the total export turnover.
Deputy Minister of Industry and Trade Do Thang Hai said tradedeficit was high in the first months of the year as major businesses such asSamsung, Electricity of Vietnam (EVN), and Viettel Group imported machinery,equipment and materials to expand their operations.
After that, when the projects finish disbursement, tradedeficit is seeing a downtrend, Hai added.
According to him, the latest trade surplus was the result ofefforts Vietnam made to step up export. Growth was seen in almost all marketsand leading commodities.
Vietnam is likely to gross a total export turnover of 200billion USD for the whole year, surging over 13 percent from last year andexceeding the set target, Hai stated in a recent press conference.
Meanwhile, imports are forecast to reach 205 billion USD, up17 percent year-on-year.
The country’s trade deficit is estimated at 5 billion USD, or 2.5 percent ofthe export turnover and lower than the National Assembly’s goal, he added.-VNA
According to the General Department of Customs, from July16-31, the country’s total export turnover reached 9.41 billion USD, up 14.1percent compared to the first half of this month.
Meanwhile, total imports were valued at 8.98 billion USD, arise of 6.5 percent compared with the figure in the month’s first half.
Taking into account the trade surplus in the second half ofJuly, Vietnam ran a trade deficit of 2.53 billion USD in the first seven monthsof 2017, equal to 2.2 percent of the total export turnover.
Deputy Minister of Industry and Trade Do Thang Hai said tradedeficit was high in the first months of the year as major businesses such asSamsung, Electricity of Vietnam (EVN), and Viettel Group imported machinery,equipment and materials to expand their operations.
After that, when the projects finish disbursement, tradedeficit is seeing a downtrend, Hai added.
According to him, the latest trade surplus was the result ofefforts Vietnam made to step up export. Growth was seen in almost all marketsand leading commodities.
Vietnam is likely to gross a total export turnover of 200billion USD for the whole year, surging over 13 percent from last year andexceeding the set target, Hai stated in a recent press conference.
Meanwhile, imports are forecast to reach 205 billion USD, up17 percent year-on-year.
The country’s trade deficit is estimated at 5 billion USD, or 2.5 percent ofthe export turnover and lower than the National Assembly’s goal, he added.-VNA
VNA
