Each day TFO Canada publishes a sample of trade news on the Canadian import market along with any new, updated or changed regulations and legislations regarding international trade; countries in which TFO Canada offers services and on the export sectors which it promotes.
Vietnam posts trade deficit of US$300 million in JanuaryWednesday, January 31, 2018 > 09:43:29
Vietnam’s trade gap for the first month of 2018 was estimated at US$300 million, according to the General Statistics Office (GSO).
Data released on January 29 showed exports rose by 33.1% to US$19 billion in January, while imports surged by 47.4% to US$19.3 billion as a result of greater demand for manufacturing input and consumer goods ahead of the Lunar New Year.
The GSO said that domestic enterprises ran a deficit of US$2.4 billion while the foreign sector recorded a surplus of US$2.1 billion.
China was the largest buyer of Vietnamese goods at a value of US$4.5 billion, 2.5 times higher than the same period in 2017, while Vietnam’s exports to the US and the European Union were US$3.5 billion and US$3 billion respectively.
The world’s second largest economy led the way as the largest source of Vietnam’s imports at US$5.7 billion, up 45.6% on the previous year.
Imports from the Republic of Korea and ASEAN followed in second and third places, at US$4.2 billion and US$2.6 billion respectively.