February’s trade deficit hits 1.2 billion USD

February’s trade deficit hits 1.2 billion USD

Statistics show that Vietnam’s trade deficit in February stands at around 1.2 billion USD, accounting for 5.9 percent of the total export-import revenue.

Last month, the country’s export-import value hit 20.4 billion USD, of which 9.6 billion USD worth of goods were shipped abroad.

Among the exports, garments and textiles and phones remained the most popular, earning 1.3 billion USD and 1.6 billion USD, respectively.

Meanwhile, both electronics and machinery joined the 1-billion-USD import club with their values increasing from previous months.

Economists said the figures mirror the better performance of domestic businesses recently.

In the first two months of this year, the country’s export-import revenue is estimated at 41.88 billion USD, of which export turnover is about 21.06 billion USD, up 12.3 percent against the corresponding time last year.-VNA

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