Vietnam Runs $191 Million Trade Gap in February

Tuan Minh

15:19 15/03/2016

BizLIVE - Vietnam posted a trade deficit of $191 million in February this year, leading to a trade surplus of $675.77 million in the January-February period.

Vietnam Runs $191 Million Trade Gap in February

A visual of Dinh Vu port in the northern city of Hai Phong. (Photo: namhaiport.com.vn)

Vietnam recorded a trade deficit of $190.92 million in February 2016, compared to a gap of $789 million in the same month of 2015, according to data of the General Department of Vietnam Customs.
The Southeast Asian country’s exports rose 6.31% year-on-year to $10.1 billion in February, when the weak-long Lunar New Year holiday fell in, while its imports slipped 0.02% to $10.29 billion.  
Its export staples remain phone and spare parts, apparel, computers and components, timber and woodwork, and seafood. Meanwhile, the country spent the most on importing computers and components, and machinery and spare parts.
According to the department’s data, Vietnam had a trade surplus of $675.77 million in the first two months of this year.
Foreign-invested enterprises had a trade surplus of $885.25 million in February, resulting in a surplus of $2.83 billion in the two-month period.
The Vietnamese government aims exports to reach $187 billion this year, an increase of 10% from 2015. The trade deficit is curbed at 5% of export revenue.

TUAN MINH