Unexpectedly trade deficit hits nearly 700 million USD in the first half of July

Development of import and export turnover to July 15, 2018 and 2019, units ‘billion USD‘. Chart: Binh.

According to the General Department of Customs, in the first 15 days of July, total export turnover reached 10.504 billion USD and import value reached 11.183 billion USD.

Thus, trade balance in the first 15 days of this month has trade deficit of nearly USD 700 million.

Because the trade surplus in June still reached a high level of nearly 1.6 billion USD, accumulated from the beginning of the year to July 15, Vietnam still has an export surplus of over 900 million USD.

In the early days of July, Vietnam's trade balance has been fluctuating and not following rules of many years.

In the first half of July, the largest export turnover groups were mobile phones and components with 1.717 billion USD; textile reached 1.55 billion USD; computers, electronic products and components reached 1.421 billion USD.

From the beginning of the year to July 15, total export turnover of the whole country reached 133 billion USD, up 8 percent over the same period last year, an increase of 9.8 billion USD.

The largest groups of export products are still three familiar names as mentioned above.

Specifically, telephones and accessories reached 25.2 billion USD; textile reached 16.6 billion USD; computers, electronic products and components reached 16.94 billion USD.

For imports, the highest turnover groups were computers, electronic products and components with 2.329 billion USD; machinery, equipment, tools and other spare parts reached USD 1,585 billion; phones and accessories reached 622 million USD; fabrics of 572 million USD; iron and steel of all kinds 426 million.

From the beginning of the year to July 15, the total import turnover of Vietnam was 132.075 billion USD, up by 9.5 percent compared to the same period of 2018, marking an increase of 11.5 billion USD.

To July 15, the scale of export and import turnover of Vietnam reached more than 265 billion USD.