Vietnam Trade Deficit Widens to $11B in Jan-Nov: Customs Dept.
The General Department of Customs has said Vietnam’s trade deficit widened $11 billion in the first eleven months of 2010, up from $10.656 billion estimated by the General Statistics Office in late November.
The figure accounted for 17% of the country’s total export value during the period, compared to the National Assembly’s cap of 20% for the whole year.
The Southeast Asian nation’s exports rose 25% on-year to $64.5 billion during the eleven-month period, while its imports increased 20.7% on-year to $75.5 billion, surpassing 5.8% and
2% of the full-year targets, respectively.
Vietnam’s exports and imports were up 6.7% on-month to $6.64 billion and 8.7% to $7.94 billion in November, respectively, resulting in the country’s trade gap of $1.3 billion.
The Ministry of Industry and Trade forecast that Vietnam’s trade deficit will fall to $12 billion in 2010 from the revised $12.853 billion in 2009.
The Ministry of Planning and Investment’s Service Economy Department has predicted Vietnam will reap $70.8 billion from exports in 2010, up 24% on-year and import $82.8 billion, up 18.4%. (Vietnam Economic Times, GSO)
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