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Vietnam February trade falls sharply on month due to holiday

Vietnam February trade falls sharply on month due to holiday

Tuesday, March 08, 2022, 10:45 GMT+7
Vietnam February trade falls sharply on month due to holiday
Workers sew protective clothes and masks at TNG garment company's production facility for domestic and international markets in Thai Nguyen province, Vietnam March 23, 2020. Photo: Reuters

Vietnam's trade in February fell sharply from January as business activities halted early in the month due to the week-long Lunar New Year holiday.

Exports in February fell 24.1% from January to $23.42 billion, government customs data released on Monday showed.

Imports in February fell 13.8% from the previous month to $25.38 billion, the Customs Department said in a report. This resulted in a trade deficit of $1.96 billion in the month.

For the first two months of this year, Vietnam's exports rose 11.7% from a year earlier to $54.52 billion, while its imports were up 16.7% to $55.10 billion, resulting in a deficit of $580 million.

Its largest export earners in the month include smartphones, electronics and garments, the report said. Key imports included computers, electronics and machinery.

Imports of refined petroleum products in the January-February period rose 2.6% from a year earlier to 1.35 million tonnes, the report said, as local petroleum traders boosted their purchases to compensate for a run cut at the country's largest refinery.

Reuters

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