1H trade deficit at $2.7bn

Exports at $97.8 billion and imports $100.5 billion in first half of 2017.

The latest figures from the General Statistics Office (GSO) show that Vietnam’s export turnover in June reached $17.8 billion, up 20.9 per cent year-on-year, and $97.8 billion in the first half, up 18.9 per cent.

Exports by the domestic sector totaled $27 billion, a 13.8 per cent increase, while those of the foreign-invested sector (including crude oil) reached $70.8 billion, an increase of 21 per cent.

Excluding price factors, export turnover rose 12.9 per cent in the first half year-on-year.

Import turnover in June, meanwhile, was $18 billion, up 21.6 per cent year-on-year, for a first half figure of $100.5 billion, up 24.1 per cent.

Imports by the domestic sector stood at $39.9 billion, an increase of 18.2 per cent, and $60.6 billion by the foreign-invested sector, up 28.3 per cent.

Excluding price factors, import turnover rose 17.3 per cent year-on-year in the first half.

The trade deficit in June was therefore $200 million and $2.7 billion in the first half.

The domestic sector recorded a trade deficit of $12.92 billion while the foreign-invested sector recorded a trade surplus of $10.22 billion.

According to the GSO, export turnover in the service sector was $6.4 billion in the first half, up 7.1 per cent, of which tourism services totaled $4.3 billion and transport services $1.2 billion.

Import turnover in the service sector was estimated at $8.2 billion, up 3.5 per cent, with transportation services at $3.9 billion and tourism services $2.4 billion.

The deficit in the service sector was therefore $1.8 billion, or 27.3 per cent of service sector exports.

by Tue Lam / VET