Ministry: Vietnam Trade Gap Likely Down 5 per cent to US$15B in 2009
The Ministry of Industry and Trade has forecast that Vietnam will incur a trade deficit of US$15 billion this year, down 5 per cent from a year earlier, the state-run An Ninh Thu Do newspaper said Wednesday.
The forecast drop in its trade gap will be based on cuts in imports of petroleum products as its first oil refinery of Dung Quat was operational in late Feb and shrinking domestic demand amid the global turmoil, the ministry said.
The ministry also released a list of imports based on the domestic demand and proposed measures to boost exports including mining, fuel, processed industrial products and handicrafts, it added.
In Jan-Mar Vietnam had a trade surplus of US$1.7 billion thanks to rocketing exports of gemstones and gold, state media said. (Capital Security)
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