Vietnam’s deficit widens as domestic demand rebounds

15:33 | 25/05/2015 Trade

The Vietnam trade deficit widened less than expected in the five months leading up to June and a rebound in imports hinted to some firming in domestic demand early in the second quarter of the year.

Vietnam’s deficit widens as domestic demand rebounds

The General Statistics Office of Vietnam (GSO) said that for the January-May period, export revenue jumped 7.3% on-year to US$63.2 billion while imports increased 15.8% to US$66.2 billion, resulting in a widening of the trade deficit by US$3 billion.

Leading government economists had generally expected the trade deficit to rise by a substantially higher figure.

The increase in imports for the period –  which reflected rises in industrial machinery, equipment and supplies in addition to consumer goods – pointed to some strengthening in domestic demand.

Source VOV News