Vietnam exports fall in H1

HANOI, June 7 (Xinhua): Vietnam's exports have seen a sharp decrease by 29.9 per cent in the riot-hit first half of May against the previous period, according to newly-released statistics of the General Department of Vietnam Customs.

The statistics released on the Vietnam Customs e-portal Friday show that in the first half of May, Vietnam's exports stood at US$5.1 billion, down by 29.9 per cent in value against the previous period in the second half of April, with cumulative exports of $51.59 billion.

Meanwhile, imports amounted to $6.1 billion, up by 2.3 per cent compared with the previous period, with cumulative imports reaching $50.66 billion.

Generally, Vietnam's total exports and imports shrank by 15.4 per cent in the first half of May by link relative ratio.

In the first half of May, Vietnam's foreign trade posted $1.0 billion of deficit, with its cumulative surplus in 2014 cut by over half to $0.93 billion.

Foreign companies contribute $6.68 billion to Vietnam's exports and imports, down by 15.2 per cent compared to the second half of April.

According to Foreign Investment Agency (FIA) under Vietnam's Ministry of Planning and Investment, foreign direct investment (FDI) flown into Vietnam has turned flat in the first five months of 2014, while newly registered FDI shrunk by one third compared to the same period last year.

A total of $4.6 billion is expected to be disbursed for FDI projects in Vietnam in the first five months of 2014, up 0. 4 per cent year-on-year.