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HANOI, April 24 (Xinhua) -- Vietnam forecast to hit a trade deficit of 200 million U.S. dollars in the first four months of the year, equal to 2.3 percent of the country's total export value, according to the General Statistics Office (GSO) on Monday.
Accordingly, the export value in April declined 9.3 percent over the previous month to 8.6 billion U.S. dollars, bringing the total export value in the first four months to 33.4 billion U.S. dollars, up 22.1 percent year-on-year.
Of the 4-month figure, the export value by foreign direct investment (FDI) sector is forecast to reach 20.65 billion U.S. dollars, up 36.4 percent, while that by domestic sector would be 12.8 billion U.S. dollars, up 4.3 percent.
GSO attributed the decrease of export value in April to difficulties faced by exporters in both the market and prices. Sharp declines in export value affected electric products and computers with a slide of 20.9 percent, coffee by 25 percent, textiles and garments by 7.3 percent, timber and woodwork products by 16.7 percent, and seafood by 7.4 percent.
During the 4-month period, the EU was the largest import market of Vietnamese goods with an import value of 5.7 billion U.S. dollars, accounting for 17.1 percent of the country's total export turnover. The United States followed with an import value of 5.6 billion U.S. dollars.
Meanwhile, the country spent 9 billion U.S. dollars on imports in April, down 0.6 percent over the previous month, resulting in the 4-month import value to 33.6 billion U.S. dollars, up 4.4 percent year-on-year.
Of the 4-month import figure, 7.9 billion U.S. dollars came from China and 6.6 billion U.S. dollars from ASEAN countries.
Economic analysts said that April's decline of the import value or a low demand of imported materials at this time forecast that the domestic industrial production would continue to slowdown in the next months.
Source: Xinhua
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