Hanoi Spends US$13B on Imports in Jan-Sept

Vietnam’s capital city of Hanoi spent over US$13 billion on importing goods in the first nine months of this year, jumping 176% compared to its export value during the period.

 

The city suffered a hug trade deficit of US$8.3 billion during Jan-Sept, the Hanoi Industry and Trade Service announced.

 

Hanoi is unlikely to realize its export target of US$6.936 billion this year, equaling to the figure in 2008, the service said, forecasting that the city’s export value will be down between 5% and 6.5% on-year to between US$6.5 billion and US$6.58 billion in 2009. (Pioneer)