Trade deficit reaches $3.08 billion in first seven months

Vietnam posted a trade deficit of US$3.08 billion in the first seven months this year, accounting for 2.7 percent export turnover, reported the General Statistics Office of Vietnam.

A domestic steel company (Illustrative photo: SGGP)

A domestic steel company (Illustrative photo: SGGP)

Of the number, domestic sector posted the trade deficit of $14.77 billion and foreign invested sector saw a trade surplus of $11.69 billion.
Export turnover hit $115.2 billion, a year on year increase of 18.7 percent. Of these, domestic sector reached $32.2 billion, up 14.6 percent while foreign invested sector hit $83 billion, up 20.3 percent.
The US is the largest export market of Vietnam with the turnover of $23.4 billion, up 9.9 percent over the same period last year, followed by the EU with $21.5 billion and China with $15.5 billion.
Import turnover was estimated to touch $118.3 billion, raising 24 percent over the same period last year.

By NG.QUANG – Translated by Hai Mien

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