Exports decrease due to complex pandemic, Vietnam suffers trade deficit again

Sketched by T.Bình

In the first half of May, the export turnover of the whole country reached $11.9 billion, down by nearly $2 billion compared to the second half of April previously.

The four main commodity groups with export turnover of more than $1 billion were computers, electronic products and components; phones and components; machinery, equipment, tools and spare parts and textile and garment.

From the beginning of the year to May 15, the total export turnover reached $116.8 billion.

In terms of import, the total turnover of the first half of May reached $13.8 billion, slightly higher than the figure of $13.76 billion in the second half of April.

The largest group of imports in the first half of May were computers, electronic products and components with the value of $2.72 billion.

Besides that, a group of imported goods of "billion USD" that are machinery, equipment, tools, and spare parts, also hit nearly $2.1 billion.

From the beginning of the year, the total import turnover reached $117.15 billion.

With a deficit of nearly $2 billion in the first half of May, from the beginning of the year to May 15, the trade balance reversed as Vietnam suffered a trade deficit of $350 million.

The decline in exports in the context of the complex pandemic situation in many localities, especially some key provinces and cities in the north such as Bac Giang, Bac Ninh, Hanoi. Three out of eight localities have import-export turnover of $10 billion or more (calculated in the first four months of the year).

In particular, Bac Giang experienced a complex development of pandemic and is also a locality with impressive growth in import and export turnover in the first months of 2021 with export turnover up by $2.3 billion over the same period in 2020 increased by $2.4 billion.