Vietnam reports surprise 5% fall in exports

The value of overseas shipments shrank 5% from a year earlier. — Bloomberg

Hanoi: Vietnam’s exports unexpectedly contracted in February, belying hopes of a quick turnaround suggested by the previous month’s data.

The value of overseas shipments shrank 5% from a year earlier, data released by Hanoi-based General Statistics Office showed yesterday, compared with the median estimate for a 1.7% increase in a Bloomberg survey of economists. Imports rose 1.8%, slower than the 7% expansion expected by analysts.