Exports grow for a seventh consecutive month in Feb.

The report said total exports in February amounted to US$19.74 billion. After the seasonal adjustment, exports grew 2.1 percent, indicating a growth trend that has extended since August.

Macroeconomic Performance

The ministry said total exports declined 15.8 percent year-on-year, totaling US$19.74 billion as of February.

Total imports fell 8.5 percent from a year earlier to US$18.82 billion, said the ministry. This month's trade balance was favorable, amounting to US$0.92 billion according to the ministry's statistics.

According to the ministry, compared with the same month last year, exports of electronic products declined 15.6 percent. The statistics show that basic metals stand at 21.1 percent of exports, with chemicals, plastics and rubber at 10.1 percent and 25.6 percent, respectively.

Exports Decline

The ministry said the exports of mineral products grew by 13.3 percent this February, an optimistic sign for exporters.

In February this year, the imports of mineral products, electronic products, chemicals, machineries and basic metals declined 0.05 percent, 14.1 percent, 15.2 percent, 4.4 percent and 18.8 percent respectively compared to February last year, according to the ministry.

Exports to Japan rose by 0.5 percent this month said the ministry. Statistics reveal that the exports to mainland China, Hong Kong, the U.S., Europe and ASEAN-6 countries declined 21.8 percent, 11.9 percent, 17.2 percent and 10.9 percent separately this February.

The ministry said the imports from the U.S. rose by 24.4 percent. Imports from the mainland China, Hong Kong, Japan, the U.S. and ASEAN-6 countries declined 17.8 percent, 20.8 percent, 8.3 percent and 12.1 percent respectively this February said the ministry.

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