VCN – The higher increase of import turnover causes a big trade deficit for Vietnam. 

a deficit of more than us189 billion

Machinery and equipment become Vietnam’s largest imported commodities. In the photo: Excavators imported to Hoang Dieu Port, Hai Phong. Photo: T. Binh

According to statements from the General Department of Customs on 9 May 2017, the country’s total import-export turnover in April 2017 reached nearly $ US 34.91 billion, down by 1.9 % compared to the previous months. Thereby, bringing the total import-export turnover of the first four months reached $ US126.1 billion, up by 20.4 % over the same period of 2016.

In which, the total export turnover reached $ US 62.11 billion, up by 16.8% and the total import turnover reached $US 64 billion, up by 24%. Therefore, by the end of April 2017, Vietnam’s deficit was near $ US1.89 billion.

According to the General Department of Customs, there was a remarkable movement in some imported commodity groups such as: Machinery and equipment continuously increased by 5.7% compared to the previous month with the turnover of $ US 3.44 billion and accumulated to the end of April, 2017, reached $ US 11.505 billion and this group became the country’s largest imported commodity group.

Meanwhile, the CBU car with many attractions continued to drop with a decrease of 38.1% in volume and 7% in value. In the past four months, the country imported 33,404 CBU cars of all kinds with total turnover of more than $ US 663 million

For exports, mobile phones and part thereof were still the largest exported commodities with a total turnover of $ US 12.148 billion, up by 6.9% over the same period last year.

Although Textile and Garment still remained its position at rank No. 2 (reaching $ US 7.478 billion), it was closely followed by electronic products and parts thereof with a small distance of only $ US 128 million.

By Thai Binh/ Huyen Trang

Source: http://customsnews.vn/