Telephone, parts top export list in Q1

08:39 | 21/04/2015 Trade

Phones and phone parts posted US$6.7 billion worth of export value in the first quarter of this year, topping the export list, according to the General Department of Customs.

Telephone, parts top export list in Q1

Coming second was textile and garment with US$4.9 billion, followed by computers and electronic products and parts with US$3.6 billion and footwear with US$2.6 billion. 

The export of industrial commodities was on the rise with higher growth rates than national averages. 

However, key agricultural and seafood exports tumbled, including seafood, coffee, rubber and rice (with decreases of over 30%), costing the country US$500 million during the period. 

Total export turnover for Q1 stood at US$36.3 billion, up US$2.93 billion from the previous year. The foreign-invested sector accounted for 67.5 percent of the national export value. 

Meanwhile, the imports were valued at more than US$38.7 billion, up 20.1% compared to the same period of 2014. 

The country’s leading imports were machinery, equipment, computers, phones and spare parts. 

The statistics showed a trade surplus of US$873 million in the FDI sector, down 57.3%. Meanwhile domestics businesses suffered a trade deficit of US$3.27 billion, up about four-fold compared to last year. 

In the reviewed period, imports from China, mainly machinery and equipment, computer and parts, and steel, reached 11.47 billion, bringing the trade deficit with the country to nearly US$8 billion.

                                                                                                                                                                     Source VOV News