In details, the country reaped $24.5 billion from exports in Jan-March, making a year-on- year rise of 23.6% (up $4.7 billion) while it spent $24.77 billion to import goods and services, up 6.9%.

In which, the foreign direct investment sector contributed $13.8 billion export value (crude oil excluded) in the period, rising 48.8% on year. The domestic sector contributed $9 billion export value, almost unchanged from 2011.

In March alone, Vietnam exported $9.15 billion worth of goods, up 10.24% on month. Excluding crude oil, the country’s export turnover in the month was estimated at $5.15 billion. Meanwhile, the country imported $9.3 billion worth of goods, up 8.1% on month, resulting in a trade deficit of $150 million.

Vietnam’s export staples in the period were garment and textile ($3.23 billion, up 15.4% on year), seafood ($1.26 billion, up 11.7% on year), coffee ($1.06 billion (down 11.8% on year).

The country mainly imported petroleum products ($2.2 billion, down 19.7% on year), clothes ($1.3 billion, down 11.1%), plastics ($1.09 billion, up 0.1%), iron and steel ($1.45 billion, up 7.7%), electronic products, computers and spare-parts ($2.66 bilion, up 103.4%).

In Q1/2011, Vietnam ran a trade deficit of $3.03 billion.

Source: TEI/StoxPlus