5:25:35 PM | 4/22/2009
Vietnam is forecast to report a sharp import decrease of 41 per cent to US$26.6 billion in the first half of this year, said the Trade Information Center under the Ministry of Industry and Trade (MoIT).
The country will spend US$4.87 billion per month for goods imports during the second quarter of this year, down 37 per cent on-year, estimated the center.
Falling prices of many imports in the world market will fuel the country’s import volume, said the center, however, weak demand in the domestic market and low or falling exports will hinder the strong growth of imports in the next months.
At present, prices of some key imports of Vietnam plunge by between 25 per cent-53 per cent on-year, said the center, elaborating that the price of imported gasoline stands at US$460/ton, down 49 per cent on-year, urea fertilizer at US$290/ton, down 25 per cent, DAP fertilizer at US$405/ton, down 53 per cent, steel ingot at between US$420-460/tons, down 34 per cent-38 per cent. (Vietnam Economic Times)
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