HANOI :Vietnam’s trade deficit was $1.55 billion in February, compared with a $3.02 billion surplus posted in January, and industrial production surged by 17.2 per cent from a year earlier, government data released on Thursday showed.
The Southeast Asian nation, a regional manufacturing hub, is heavily dependent on export-driven economic growth and faces risks from rising global trade disputes, including the potential imposition of tariffs by the United States.
February’s exports rose by 25.7 per cent in February from a year earlier while imports surged by 40 per cent, the General Statistics Office said.
The GSO data showed that for the January-February period, exports rose an annual 8.4 per cent and imports were up by 15.9 per cent.That resulted in a trade surplus for the two-month period of $1.47 billion, aligning with figures published by the government on its portal the previous day.
Combining data for the two months can smooth out distortions from the timing of Lunar New Year holidays, which fell in January this year and February last year.
Industrial production for February increased by 17.2 per cent year-on-year, outpacing January’s 0.6 per cent growth.
Retail sales rose 9.4 per cent from a year earlier.
Foreign investment inflows rose 5.4 per cent in the January-February period from a year earlier to about $3 billion, and foreign investment pledges rose an annual 35.5 per cent to $6.9 billion.
