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Capital's trade deficit hits $4.6b in four months
Ha Noi's trade deficit in the first four months of this year increased slightly to US$4.6 billion, the city's Statistics Office said. During this time the capital was estimated to have earned more than $2.6 billion from exports, a year-on-year increase of 18.2 per cent.
Meanwhile, the city had to spend $7.24 billion on imports, up 8.9 per cent in comparison with the same period last year.
In April alone, its export turnover month-on-month decreased by 2.7 per cent to $598 million, the fourth continuous monthly decline, the office said.
Most of city's key imports saw a downturn in value in April. There were only three products that increased: pepper, handicraft products and petrol imported for re-export.
Although down by 1.2 per cent against March, the city's import turnover was still high, at about $1.28 billion.
The office said that except for steel and fertiliser, import turnover of most products declined. Many garment, footwear and electronic companies had to import raw material to make products for export.
About 75 per cent of city's exports was raw materials and machines.
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