Exports down 11.5% in January
(VOV) - The General Statistics Office (GSO) has announced Vietnamese exports fell 11.5% in January to an estimated US$10.3 billion.
Domestic businesses contributed US$3.5 billion, down 17.2% from the previous month’s figure and 13.8% compared to the same period last year.
The foreign direct investment (FDI) sector, including crude oil, accounted for US$6.8 billion of the total, down 8.2% monthly and 9.2% in annual terms.
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The declines are credited to value slides seen in export commodities such as computers and components (down 16.3%), seafood (18.4%), crude oil (21.4%), wood and timber products (21.6%), steel (31.7%), rubber (35.5%) and coal (47%).
Value declines in annual terms beset important export products including garments, telephones and components, computers and components, crude oil, machinery and equipment, tools, transportation, and coffee.
January’s imports are estimated at US$10.4 billion, 14.6% less than December and 1.9% lower than the same period last year. FDI businesses bought US$5.8 billion of the total, down 7.9% monthly and 1.5% annually, while the domestic sector purchased US$4.6 billion, down 21.9% monthly and 2.3% annually.
Vietnam imported significantly less foreign chemicals, cotton, petroleum, plastics, and transportation.
January’s trade deficit is estimated at US$100 million.