Trade deficit expands in domestic business sector

Domestic business sector posted a trade deficit of US$3.27 billion in the first quarter this year, quadrupling it in the same period last year, according to latest data from the General Department of Vietnam Customs.

Import turnover from China touched US$11.47 billion while export turnover to this market reached only US$3.54 billion, creating a shortfall of US$8 billion.

The most imported items from China included machines, equipment, instruments, computers, electronic items and components, cell phones, and steel.

In the first quarter, foreign direct investment sector saw a trade surplus of US$873 million, down 57.3 percent compared to a year ago.

By Ham Yen – Translated by Hai Mien

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