Vietnam Posts $3.17 Billion Trade Deficit in 2015

Tuan Minh

23:18 25/12/2015

BizLIVE - Vietnam has run a trade deficit of $3.17 billion in 2015 after three years of posting trade surpluses.

Vietnam Posts $3.17 Billion Trade Deficit in 2015

Vietnam has recorded a trade gap of $3.17 billion in 2015 after three years of posting trade surpluses.

Vietnam has earned an estimated $14.2 billion from exports in December while spending $14.5 billion on imports, resulting in a trade shortfall of $300 million in the month, according to preliminary data of the General Statistics Office (GSO).
The Southeast Asian country has posted a trade deficit of $3.17 billion in 2015, accounting for 1.95% of the export revenue, much lower than the 5% target set by the parliament.
During the year, the country’s exports have increased 8.1% year-on-year to $162.44 billion while its imports have expanded 12% to $165.61 billion.
Phones and spare parts remain the country’s largest export staple, with its value rising 29.9% year-on-year to $30.65 billion. The runners-up are apparel products with $22.63 billion and electronics and computers with $15.81 billion.
Meanwhile, the country has spent the most on importing machinery, equipment and spare parts, with value soaring 23.1% year-on-year to $27.61 billion.
Foreign-invested enterprises raked in $115.13 billion from exports including crude oil during the year, up 13.8% from a year earlier, while they spent $97.98 billion on imports, leading to a trade surplus of $17.15 billion.

 

TUAN MINH