Vietnam is forecast to suffer a smaller trade deficit of US$17 billion this year, US$3 billion lower than the initial estimation of US$20 billion for the year, and up 36.54 per cent on-year, reported the General Statistics Office (GSO).
The country reaps US$62.9 billion from goods exports this year, up 29.5 per cent on-year. Of the sum, foreign-invested firms contribute US$34.9 billion, up 25.7 per cent on-year and domestic ones with US$28 billion, up 34.7 per cent.
In December, Vietnam’s total export value stands at US$4.9 billion, up 4.2 per cent on-year and 16 per cent on-month.
Among key export items, crude oil still tops the list with 13.91 million tons worth US$10.45 billion, down 7.7 per cent on-year in volume but up 23.1 per cent in value.
It is followed by garments and textiles with US$9.1 billion, up 17.5 per cent, footwear with US$4.69 billion, up 17.6 per cent, seafood with US$4.56 billion, up 21.2 per cent, rice with 4.72 million tons worth US$2.9 billion, up 3.6 per cent and up 94.8 per cent, respectively, woodwork products with US$2.77 billion, up 15.6 per cent, electronics and computers with US$2.7 billion, up 25.5 per cent, coffee with US$2.02 billion, up 5.8 per cent, rubber with US$1.59 billion, up 14.7 per cent and coal with US$1.44 billion, up 44.4 per cent.
Vietnam is estimated to spend US$5.1 billion in December, up from US$4.65 billion in November, lifting Vietnam’s whole import spending to US$79.9 billion on imports, up 27.5 per cent on-year. Of which, the domestic sector imports US$51.45 billion, up 25.6 per cent on-year and the foreign invested sector of US$28.45 billion, up 31.1 per cent.
This year Vietnam spends most on machinery and equipment (US$13.61 billion, up 22.4 per cent on-year), fuels (US$10.81 billion, up 40.2 per cent), steel and iron (US$6.33 billion, up 24 per cent), cloths (US$4.45 billion, up 12.6 per cent), electronics, computers and spare parts (US$3.72 billion, up 25.8 per cent), plastics (US$2.92 billion, up 16.6 per cent), automobile (US$2.44 billion, up 62.8 per cent), apparel and leather accessories (US$2.37 billion, up 10.4 per cent), chemicals (US$1.76 billion, up 20.6 per cent), animal feed (US$1.73 billion, up 47.2 per cent), chemical products (US$1.6 billion, up 25 per cent), and fertilizer (US$1.47 billion, up 47 per cent).
The Vietnamese National Assembly has set export target of US$72 billion in 2009, up 13 per cent on-year, said Trade and Industry newspaper. (GSO Dec 2008)
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