27.2 C
Ho Chi Minh City
Tuesday, June 25, 2024




Trade deficit returns

Vietnam’s economy returned to a trade deficit in May, ending a 23-month streak of trade surplus. However, researchers and experts view this development as positive. Exports on the rise Data from the General Department of Vietnam Customs showed that the country’s exports had amounted to around US$156.77 billion by the end of May, up 15.2% versus the same period last year. Of this sum, nearly US$43.7 billion came from the domestic sector, rising by 20.5% year-on-year and accounting for 27.9% of the total. Meanwhile, the foreign direct investment (FDI) sector, including crude oil, made up around US$113.08 billion, up 13.3%. In May alone, Vietnam fetched US$32.81 billion from export operations, up by 5.7% from the same period last year. Various industries recorded an improvement in export revenue. For instance, seafood exports in May were estimated to expand by over 7% compared to the same period last year to US$870 million, according to updated data from the Vietnam Association of Seafood Exporters and Producers (VASEP). Specifically, tuna and crab exports grew by 36% and 92% year-on-year, respectively. The export value of fruit and vegetable products in May picked up by 10.3% versus the previous month to US$665 million. Overall, in the […]
To read more, please click here.

Maersk launches Vietnam-S.Korea container shipping service

HCMC - Maersk, a global shipping company, has launched its weekly container shipping service from Incheon Port, South Korea to Cat Lai Port in...

Challenges for merchandise trade

In 2023, Vietnam’s merchandise exports and imports dropped by 6.6% year-on-year to an estimated US$683 billion. Export revenue fell by 4.4% to US$355.5 billion...

Vietnam-China trade grows strongly in 2021

HCMC – Although the Covid-19 pandemic negatively affected global trade last year, two-way trade between Vietnam and China grew steadily and strongly, according to...

HCMC’s exports to most major markets decline

HCMC – HCMC’s exports to most of its major markets, such as the United States, Japan, the European Union and China, declined last year...

Latest news