Vietnam’s trade deficit widened to USD 1.3 billion in May of 2019 from USD 0.81 billion in the same month a year earlier. It was the largest trade gap since February 2017, as imports increased 8.3 percent from a year earlier to USD 22.8 billion, mainly due to higher purchases of vegetables and fruits (64.9 percent); electronic, computers and components (13.5 percent); phone and components (36.2 percent), and cars (25.8 percent). Meantime, exports went up at a softer 7.5 percent to USD 21.5 billion, boosted by higher sales of chemicals (57.3 pct); vegetables and fruits (15.8 percent); phones and components (19.5 percent); vegetables and fruits (15.8 percent); footwear (13.8 percent); and textiles and garments (10.8 percent). Considering the first five months of the year, the country's trade balance recorded a USD 548 million shortfall, as exports rose 6.7 percent year-on-year to USD 100.7 billion and imports went up 10.3 percent to USD 101.3 billion. Balance of Trade in Vietnam averaged -307.80 USD Million from 1990 until 2019, reaching an all time high of 2258 USD Million in March of 2018 and a record low of -3888 USD Million in December of 1996.
Balance of Trade in Vietnam is expected to be 100.00 USD Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Balance of Trade in Vietnam to stand at 2000.00 in 12 months time. In the long-term, the Vietnam Balance of Trade is projected to trend around 1600.00 USD Million in 2020, according to our econometric models.