Trade deficit $1.5 bil in August

Coal contributes $1.6 billion to August revenues.

Exports are expected to top US$4.7 billion in August and the trade gap $1.5 billion, the General Statistics Office said August 24.

The export figure for the year to date reached $37.25 billion, 14.2 percent lower year on year.

Coal contributed a lion’s share of August revenues with $1.6 billion. Domestic businesses saw the lowest decline in exports at 5.9 percent, while for FDI firms it plunged 21 percent.

In the first eight months imports were worth $42.4 billion, a 28.2 percent fall year on year, taking the trade gap to $5.1 billion.

Machinery continued to top the import list at more than $1 billion, following by steel, fuel, and textiles.

By A.Phuong – Translated by Thuy Doan

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