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Vietnam Jan-May exports down 12.3% as smartphone, garment shipments slump

Tan KW
Publish date: Fri, 09 Jun 2023, 05:21 PM
Tan KW
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HANOI Vietnam's exports in the first five months of this year fell 12.3% from a year earlier to US$135.22 billion , dragged by a decline in shipments of key products, smartphones, electronics and garments, customs data showed on Friday (June 9).

Imports in the January-May period fell 18.4% to US$125.57 billion, resulting in a trade surplus of US$9.65 billion, the Customs Department said in a report.

Shipments of smartphones, its largest export earner, fell 19.9% in the period to US$20.2 billion, the department said. Garment exports fell 15.6% to US$12.6 billion.

Exports by companies with foreign investment accounted for 73% of Vietnam's overall exports in the five-month period.

In May, Vietnam's exports rose just 0.6% from April to US$28.04 billion, while imports were up 3.3% at US$26.04 billion, the department said.

 


  - Reuters

 

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