Vietnam Trade Deficit Forecast High at $14B This Year: Economist

Vietnam is predicted to incur a huge trade deficit of $14 billion in 2010, compared to last year’s figure of $12.246 billion announced by the General Statistics Office, a senior economist said.

 

Though the ratio of trade deficit to the country’s total export value fell to 16.7% in the first nine months of this year the gap remained wide, Vo Tri Thanh, deputy head of the Central Institute of Economic Management (CIEM) under the Ministry of Planning and Investment noted.

 

In late September, the GSO forecast Vietnam’s trade deficit will stand between $12.5 billion and $13 billion this year.

 

Earlier, the Ministry of Industry and Trade gave more optimistic prediction about the deficit at $11.5 billion and $13.5 billion in 2010.

 

Vietnam incurred a trade deficit of $8.58 billion between Jan and Sept, the GSO said, noting that the gap widened to $11.4 billion, exclusive of gold and jewelry exports. (Cafef.vn Oct 5, GSO Sept Edition)