Vietnam reports $1 billion trade deficit in December

Xuan Thinh Tuesday | 01/07/2020 12:37

Photo:clipperoil.com

Vietnam’s total import-export turnover grew 7.6% to nearly $517 billion in 2019, with a trade surplus of $9.94 billion, data from General Department of Customs shows.

However, in the final month of last year, the economy recorded a trade deficit of $1 billion. December trade revenue was reported at $44.6 billion with $21.8 billion export and $22.8 billion import, an increase of 6.8% year over year.

In 2019, the country’s total export value was estimated at $263.45 billion, up 8.1% while total import revenue was seen at $253.51 billion, up 7% compared to a year earlier.

Last year’s main exports were wood and wood products with revenue of $10,5 billion, up 18.2% while crude oil had export revenue was estimated at $2 billion, down 7.8% against 2018.

The main import items were coal with an estimated $3.79 billion, up 48.1% compared to 2018.