Vietnam first quarter trade deficit better than expected

10:19 | 18/05/2015 Trade

Surging exports in the latter half of April helped contain Vietnam’s trade deficit for the four months leading up to May to a manageable figure, according to recently released statistics from the General Statistics Office of Vietnam (GSO).

Vietnam first quarter trade deficit better than expected

The country’s total export revenue for the January-April period jumped 6.9% on-year to US$49.69 billion while its imports surged 16.6% to US$51.77 billion resulting in a trade deficit of US$2 billion.

The GSO attributes the better than expected figures to a stronger export picture in the latter part of April, resulting in a much smaller deficit than the US$3 billion it had forecast.

Export revenue took an unanticipated upturn during the second half of April (nearly US$7 billion) with telephones and components, crude oil, garment, footwear and computer revenue tallies showing robust growth.

Meanwhile for the second half of April imports dipped 15.6% to US$6.08 billion. Key imported products witnessing decline were computers, electronic products and components, equipment, tools and telephones.

                                                                                                                                                                           Source VOV News