Trade surplus reaches $700m

Trade surplus reaches $700m

The nation's trade surplus so far this year reached US$700 million by March 15, according to statistics from the General Department of Customs.

The country's export value in the period hit $24.5 billion, up 23 per cent over the same period last year while import value surged 17.9 per cent to nearly $23.8 billion.

During the first two weeks of March, exports such as precious stones and jewelry, textiles and garments, mobile phones and components, crude oil and wood products saw significantly increasing value against late February, with turnover hitting $80 to $350 million each.

Imports of several products including refined petroleum, animal feed, and machines and equipment also surged sharply, ranging between $90 million and $230 million for each type of product.

Yesterday, the HCM City Statistics Office released estimates indicating the city enjoyed a $1.32 billion trade surplus for the first quarter of this year, including a $440.3 million trade surplus in March.

The city earned a total of $6.58 billion from exports in the first three months, up 12.8 per cent year on year, of which key export staples included rice, sea-food, milk, garments and textiles, footwear and crude oil.

Meanwhile the city spent $5.26 billion on imports of goods and services during the period, a rise of 7.8 per cent compared to last year.

Imports during the first three months of this year mainly consisted of electronic products, computers and components, raw materials for garment & textile production, pharmaceuticals, plastics, machinery and spare parts.

Meanwhile, Ha Noi's Statistics Office estimated the capital city had a $2.9 billion trade deficit in the first quarter of 2013, with exports inching up 0.3 per cent to $2.4 billion while imports increased 2.9 per cent to $5.35 billion.

The office attributed the insignificant export increase to low import demand from Viet Nam's key export markets of the US, China and Europe.

It said that as many as 5 out of 11 of the capital's export items posted falls in export value during the period, including agricultural products (down 0.3 per cent on year), electronic products (down 0.6 per cent), computer components and peripherals (down 2.5 per cent), petroleum (down 40.8 per cent), and glass and glass products (down 10.4 per cent).

Meanwhile, items that posted higher import values during the period included fertiliser (up 35.7 per cent on year) and plastics (up 5.8 per cent on year)

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