Eight month trade deficit approximates $2.1 billion

Vietnam posted a trade deficit of about US$2.1 billion in the first eight months this year, reported the Ministry of Industry and Trade last night.

Workers processing shrimp for export at Hai Thanh Company (Photo: SGGP)

Workers processing shrimp for export at Hai Thanh Company (Photo: SGGP)

Export turnover hit $133.5 billion, up 17.9 percent. Of the number, domestic firms yielded $37.8 billion, increasing 15.7 percent and FDI companies earned $95.7 billion including crude oil, hiking 18.9 percent.
Most exported items were agricultural, forestry, seafood and processed products.
Import turnover was estimated to reach $135.6 billion, a year on year increase of 22.3 percent over the same period last year. Of these, domestic sector hit $54.2 billion, up 18.4 percent. Foreign direct investment (FDI) businesses reached $81.4 billion, up 25 percent.
Import increase was to serve investment projects with major items being machines, equipment and materials for productions. In addition, the import price of many commodities was also higher than the same period last year. For instance, petrol price increased 26.7 percent, coal 51 percent, iron and steel 38.6 percent.

By PHUC HAU – Translated by Hai Mien

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