A view of Da Nang Port in central Vietnam. (Photo: ipc.danang.gov.vn)
Vietnam posted a trade deficit of $400 million in May following surpluses in the two previous month, the General Statistics Office
(GSO) said in its latest report.
In the first five months of this year, the country enjoyed a trade surplus of $1.36 billion, thanks to a surplus of $9.1 billion of foreign-invested enterprises (FIEs), according to the government-run office.
Between January and May, Vietnam’s export turnover increased 6.6% year-on-year to $67.7 billion. Of the amount, FIEs raked in $48.3 billion, up 7.7% year-on-year, accounting for 71.34% of Vietnam’s exports in the period.
The country’s imports were down 0.9% year-on-year to $66.3 billion in the five-month period, of which FIEs spent $39.1 billion on importing goods, down 1.9%.