Six-month trade gap exceeds US$1.4 billion

Latest data from the General Statistics Office shows that the country’s deficit gap now exceeds US$1.4 billion in the first six months of the year.

Accordingly, total imports and exports in the first six months of this year were estimated at $125.5 billion, of which exports were at $62 billion, up 16 percent year-on-year, and imports were at $63.45 billion, up 17 percent year-on-year.

In June, export turnover was estimated at $11.4 billion, a drop of 2.3 percent compared to the previous month, while import turnover was estimated at $11.6 billion, a decrease of 5 percent over the previous month.

An increase in trade gap in recent months is considered as a positive sign as firms have promoted imports of materials for manufacturing, which proved by a recovery of 5.3 percent in industrial manufacturing in the first six months of this year compared to the same period last year. In addition, inventory levels have gradually declined month by month since the beginning of the year.

Noticeably, foreign-invested sector saw a trade surplus of $2.55 billion in June and more than $5.4 billion in the first half of this year.

By Anh Phuong – Translated by Thuy Doan

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