VN sees lowest trade deficit in May
16:18 | 21/05/2010
VGP – The trade deficit in May stands at US $750 million, reaching the record low since the beginning of 2010, said the Ministry of Industry and Trade (MIT).


Export turnover has been worth of US $6.1 billion, bringing the total export value to US $25.83 billion which is 12.3% higher than the same period last year and accounts for 42.7% of the year plan.

The January-May trade gap stands around US $5.37 billion, equivalent to 20.8% of the export turnover. 

In the fifth month, export of the agro-forestry and fisheries sector increased by 7% on year-on-year basis.

According to domestic experts, state-owned enterprises (SOEs), small and medium-sized enterprises (SMEs), exporters and associations are facing with difficulties, especially escalating prices of input materials and commodities in the world market. 

In addition, enterprises have to deal with the shortage of unskilled laborers in such production areas as aquaculture, textile and garment, furniture. Limited capital resources and relatively high interest rates are also challenging them.

By Kim Loan

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