Vietnam is estimated to see a huge trade deficit of US$15.96 billion in the first eight months of this year, up from the on-year revised figure of US$7.33 billion, said the General Statistics Office (GSO).
The country reaps US$43.32 billion from goods shipments during the eight-month span, up 39.1 per cent on-year. Of the sum, foreign-invested firms contribute US$23.69 billion, up 35.4 per cent on-year and the domestic ones with US$19.62 billion, up 43.9 per cent.
In August, Vietnam’s total export value stands at US$6.1 billion, up 40.6 per cent on-year and down 6.72 per cent on-month, said the GSO.
Up to ten export items have value of over US$1 billion each in the first eight months. Of which, crude oil still tops the list with 8.98 million tons worth US$7.88 billion, down 10.8 per cent on-year in volume but up 53.3 per cent in value.
It is followed by garments and textiles with US$6.04 billion, up 20 per cent, footwear with US$3.15 billion, up 18.5 per cent, seafood with US$2.88 billion, up 20.8 per cent, rice with 3.38 million tons worth US$2.23 billion, down 4.8 per cent and up 96.1 per cent, respectively, woodwork products with US$1.82 billion, up 20.5 per cent, electronics and computers with US$1.65 billion, up 26 per cent, coffee with US$1.53 billion, up 9.2 per cent, rubber with US$1.04 billion, up 30.5 per cent and coal with US$1.01 billion, up 52.8 per cent.
Vietnam spends US$7 billion on imports in August, up 30 per cent on-year and down 4.1 per cent on-month. The figure has lifted the country’s whole import spending to US$59.28 billion in January-August, up 54.1 per cent.
Of the total import value, the domestic sector is forecast to import US$40.06 billion, up 65.4 per cent on-year and the foreign invested sector of US$19.22 billion, up 41.3 per cent.
Vietnam imported most machinery and equipment (US$9.6 billion, up 41.6 per cent on-year), fuels (US$9.11 billion, up 94.3 per cent), steel and iron (US$5.47 billion, up 81.3 per cent), cloths (US$3.03 billion, up 18.2 per cent), electronics, computers and spare parts (US$2.34 billion, up 32.5 per cent), plastics (US$2.13 billion, up 40.3 per cent), apparel and leather accessories (US$1.63 billion, up 17.4 per cent), animal feed (US$1.34 billion, up 70.4 per cent), chemicals (US$1.29 billion, up 41.2 per cent), fertilizer (US$1.18 billion, up 6.6 per cent), chemical products (US$1.09 billion, up 36.4 per cent).
Imports of automobile report the highest growth rate of 157.8 per cent to US$1.95 billion in January-August.
Vietnam's imports are forecast to increase 31 per cent on-year to US$80.2 billion this year, lower than the previous target of US$85.7 billion set by the government, while the country will attain an on-year export growth of 26 per cent to US$61.2 billion, said the Ministry of Industry and Trade (MoIT). (GSO Aug 2008, Youth)
Vietnamese
