Sign up | Log in



Home  >>   Daily News  >>   Vietnam  >>Economy  >> Exports help lower trade deficit
NEW UPDATES Asean Affairs   2 March  2015  

Exports help lower trade deficit

 A surge in exports has seen Viet Nam 's trade deficit drop sharply in the first two months of the year, the General Statistics Office (GSO) says.

At the end of February, the trade deficit stood at US$61 million, much lower than the $361 million recorded in January, it said.

Le Thi Minh Thuy, head of GSO's commerce department, said that with the long Tet (Lunar New Year) holiday falling in February, enterprises had rushed to fulfill their export contracts.

This saw the export value soar to $9.6 billion, $300 million higher than February imports, she said.

This difference accounted for the fall in trade deficit for the first two months compared to just January, she added.

In the first two months, a year-on-year increase of 8.6 per cent in export value saw it reach $23.66 billion, against a corresponding surge of 23.4 per cent in import value pushed it to $23.05 billion.

During the two months, foreign investment enterprises were the major exporters with a total export value of $16 billion, 12.4 per cent higher than the same period last year. Meanwhile, domestic enterprises gained $7 billion, a slight surge of 0.7 per cent.

The products of the FDI enterprises that earned large export values included electronics, computers and their components ($2.12 billion, up 57.1 per cent); telephones and components ($4 billion, up 15.3 per cent); other kinds of machines and equipment ($1.11 billion, up 19.2 per cent); and textile and garments ($3.41 billion, up 17.7 per cent).

Several export products of domestic enterprises did not grow in export value, including crude oil with an export value of $604 million, down 40.9 per cent; rice with $237 million, down 35.6 per cent; seafood with $875 million, down 12.6 per cent; and coffee with $511 million, down 16.4 per cent; as well as rubber with $202 million, down 6.3 per cent.

Viet Nam mainly imported goods for producing and assembling products for export. These imports were electronic products, computers and their components with a total import value of $3.27 billion, up 31.9 per cent; telephones and components with $1.51 billion, up 26.2 per cent; cloth with $1.28 billion, up 12.6 per cent; and steel with $1.69 billion, up 15.6 per cent.

Meanwhile, the value of petrol and oil imports fell 52.2 per cent to reach $621 million.

China was still the largest import market of Viet Nam, compared with other import markets such as the Association of South-East Asian Nations, South Korea, Japan and the European Union, besides the United States. — VNS

Reach Southeast Asia!
10- Nations, 560- Million Consumers
And $1 -Trillion Market
We are the Voice of Southeast Asia Media Kit
The only Media Dedicated to Southeast Asia Advertising Rates for Magazine
Online Ad Rates

Comment on this Article. Send them to

Letters that do not contain full contact information cannot be published.
Letters become the property of AseanAffairs and may be republished in any format.
They typically run 150 words or less and may be edited
submit your comment in the box below

Today's  Stories                           March 2 , 2015 Subsribe Now !
• Exports help lower trade deficit Subcribe: Asean Affairs Global Magazine
• Govt to develop Banyuwangi a new tourist destination
• Govt focuses on Ayeyarwady dam plans
Research Reports
on Thailand 2007-2008

• Textiles and Garments Industry
• Coffee industry
• Leather and footwear industry
• Shrimp industry

• Unilever commits to investment plan
• World Bank bars local firm
Asean Analysis                    February 27, 2015
• Asean Analysis February 27, 2015
Four key capital cities across developing ASEAN countries report marginal growth in tire sales volume in 2014: GfK
Advertise Your Brand

Asean Stock Watch   February 27,  2015
• Asean Stock Watch-February 27 , 2015
The Biweekly Update
• The Biweekly Update February 20, 2015

ASEAN NEWS UPDATES      Updated: 04 January 2011

 • Women Shariah scholars see gender gap closing
• Bank Indonesia may hold key rate as inflation hits 7 percent
• Bursa Malaysia to revamp business rules
• Private property prices hit new high in Singapore • Bangkok moves on mass transport
• Thai retailers are upbeat
• Rice exports likely to decline • Vietnamese PM projects 10-year socioeconomic plan


This year in Thailand-what next?

AseanAffairs   04 January 2011
By David Swartzentruber      

It is commonplace in journalism to write two types of articles at the transition point between the year that has passed and the New Year. As this writer qualifies as an “old hand” in observing Thailand with a track record dating back 14 years, it is time take a shot at what may unfold in Thailand in 2011.

The first issue that can’t be answered is the health of Thailand’s beloved King Bhumibol, who is now 83 years old. He is the world's longest reigning monarch, but elaborate birthday celebrations in December failed to mask concern over his health. More






1.  Verifier

1. Verifier

For security purposes, we ask that you enter the security code that is shown in the graphic. Please enter the code exactly as it is shown in the graphic.
Your Code
Enter Code

Home | About Us | Contact Us | Special Feature | Features | News | Magazine | Events | TV | Press Release | Advertise With us

| Terms of Use | Site Map | Privacy Policy  | DISCLAIMER |

Version 5.0
Copyright © 2006-2019 TIME INTERNATIONAL MANAGEMENT ENTERPRISES CO., LTD. All rights reserved.
Bangkok, Thailand