Trade deficit triples in first quarter (28/03)
06/08/2010 - 28 Lượt xem
The country’s export revenues are estimated at 4.7 billion USD in March, bringing its first quarter export turnover to 13 billion USD, a 22.7 percent year-on-year rise, the Ministry of Industry and Trade said.
The ministry said the export value only rose by 11 percent in the first three months if the price hike factor not included.
A number of major export items recorded increases in export prices included crude oil (more than 50 percent) and rice, rubber and coffee (more than 30 percent).
The country also spent around 7 billion USD on imports in March, bringing its first quarter import value to around 20.3 billion USD, an increase of 62.5 percent from the same period last year.
Main import items were petroleum, steel, fertilizer, plastics and automobiles.
The rise in import value was attributed to the increase in the price of petroleum and the quantity of imported machinery, equipment and materials.
Trade experts say the implementation of a tax reduction programme under the nation’s international and regional integration commitment and the depreciation of the greenback against Vietnam dong caused problems for exporters but facilitated imports.
Source: VNA
