Vietnam puts positive spin as trade surplus turns deficit

TN News

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Vietnam's April trade deficit of US$1 billion has taken the year's figure into the red to the tune of $722 million, but the government sees this as a "positive sign" that manufacturing, especially by the state and domestic private sectors, is recovering.

Exports for the month totaled $9.7 billion, and imports, $10.7 billion.

Imports by the domestic sector in the first four months stood at $18.4 billion, a 10.5 percent increase compared to the same period last year.

Imports of feedstock and raw materials accounted for 87 percent of this.

The government said the increased imports of the items are meant to meet the rising export demand.

Imports by the foreign sector rose 25.2 percent during the period.

Among the items that have seen the sharpest rise in imports this year are raw materials for the textile and footwear industries.

China accounted for almost a quarter of the imports ($4.48 billion), and was followed by South Korea and Taiwan.

Exports in the first four months were worth $39.4 billion.

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