April marks severe drop in import-export turnover

Update: 17:38 | 22/04/2020
Vietnam's import and export turnover during the first half of April suffered a sharp drop of US$7 billion in comparison with figures from the second half of March, of which the country recorded a trade deficit of approximately US$1.3 billion, according to the General Department of Vietnam Customs.
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A staff working at Samsung Electronics Vietnam. (Photo: Cafebiz)

During the reviewed period, export turnover endured a plunge of over US$4.7 billion to nearly US$8.26 billion from the second half of March, while import revenue also fell by US$2.3 billion to roughly US$9.54 billion.

Despite recording a trade deficit of close to US$1.3 billion during the first half of April, the country enjoyed a trade surplus of approximately US$2.5 billion as a result of the large trade surplus that occurred during the year’s first quarter.

Most notably, there are two categories of export commodities that have been enjoying turnover of over US$1 billion in recent times. These include phones and their components, along with computers, electronic products and their components that have a total value of nearly US$1.3 billion and US$1.5 billion, respectively.

With regard to imports, the nation also posted two groups of commodities that have an import turnover of over US$1 billion, including computers, electronic products and their components, machines, equipment, tools, and spare parts.

These large figures can be seen in imports of computers, electronic products and their components which are estimated to be close to US$1.9 billion, whilst imports of machinery, equipment, tools, and spare parts reached over US$ 1.5 billion.

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(Source: VOV)