Vietnam Capital Likely to Incur US$9.94B Trade Deficit in Jan-Sept
Vietnam’s capital city of Hanoi is likely to run a trade deficit of US$9.941 billion in the first nine months of this year, the municipal Planning and Investment Service said.
The city is estimated to have reaped US$5.595 billion from exports between Jan and Sept, up 19.5% on-year, and imported US$15.536 billion, up 18.2%.
The Hanoi Statistics Office earlier forecast the city will incur a huge trade deficit of US$13.59 billion in 2010, in which, Hanoi will export US$7.81 billion worth of goods, up 23.5% on-year, and spend US$21.4 billion on imports, up 13.1%.
Footwear, apparel, handicrafts and electronics are Hanoi’s export staples while its main imports are machinery and equipment, petroleum products, and iron and steel. (Vietnam Economic Times)
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