Viet Nam reports US$2.98 billion in trade deficit in first two months

In February alone, total trade volume hit US$67.16 billion, down 24.1 percent against the previous month, but up 5.1 percent against the same period last year. February's export turnover was estimated at US$33.06 billion, representing a month-on-month decline of 23.7 percent.

In the first two months, export turnover hit US$76.36 billion, up 18.3 percent against the same period last year. Thirteen commodities earned over US$1 billion of export turnover each, four over US$5 billion each.

Meanwhile, import value in February reached US$34.1 billion, down 24.6 percent against the previous month.

In January-February, the U.S. was the largest exporter of Viet Nam's goods with US$23.8 billion while China was the largest goods supplier with US$31.9 billion.

Viet Nam recorded a trade deficit of US$2.98 billion in the first two months. Of this figure, the domestic economic sector reported a trade deficit of US$6.5 billion, while the foreign-invested sector (including crude oil) posted a trade surplus of US$3.52 billion./.