Vietnam posts $1bn qtrly trade surplus, highest in 4 yrs
Vietnam posts $1bn qtrly trade surplus, highest in 4 yrs
Vietnam’s trade surplus widened to US$1 billion in the first three months of this year, the highest quarterly record since 2010, according to the latest figures recently released by the General Statistics Office.
Exports in the first quarter rose 14.1 percent from the same period last year to $33.34 billion, while imports jumped 12.4 percent to $32.34 billion, the office said.
The country’s trade surplus in the first three months thus totaled $1 billion, the highest in the last four years.
However, in March alone, Vietnam suffered a trade deficit of $300 million, with $12 billion earned from exports and $12.3 billion spent on imports.
Exports this month posted a modest 2.4 percent increase, and the foreign-invested sector accounted for as much as $8.13 billion, or 67.75 percent, of the total export turnover.
The foreign businesses also accounted for $7.05 billion, or 57 percent, of the imports this month.
Vietnam recorded a $482 million trade surplus in the first quarter of last year when the full-year figure was $863 million.
Data from the statistics office also show that Vietnam’s first-quarter GDP slightly rose to 4.96 percent from 4.76 percent in the first three months of last year.
The country targeted a 5.98 percent growth for 2014.
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