Trade deficit of Vietnam in the first half of this year is forecast to shrink to US$1.98 billion, down 44.5 per cent on-year, according to the government’s General Statistics Office (GSO).
The country is estimated to pull in $18.73 billion from exports during the period, up 25.7 per cent on-year and meeting 50 per cent of the whole year’s target, while it is forecast to spend US$20.71 billion for imports, up 14.1 per cent on-year.
The figures include $3.4 billion and $4 billion in export and import values in June, down 1.2 per cent and 6.75 per cent on-year, respectively, resulting in an estimated trade deficit of $600 million this month.
Of the total export value in the first half, foreign-invested enterprises contribute $10.81 billion, up 27.3 per cent on-year and domestic firms reap the remainder, up 23.7 per cent.
The six-month span witnesses sharp on-year increases in volume of coal, up 63.6 per cent, rubber, up 43.4 per cent and tea, up 27.4 per cent. Meanwhile, electric wires and cables, garments and textiles, woodwork products, seafood and footwear enjoy high value growth of 36.3 per cent to $309 million, 32.6 per cent to $2.74 billion, 25.8 per cent to $922 million, 25.7 per cent to $1.41 billion, and 20.3 per cent to $1.71 billion, respectively.
In January-June, the Southeast Asian country is estimated to import $20.71 billion worth of goods, up 14.1 per cent on-year, including $7.55-billion imports of foreign-invested enterprises, up 16.2 per cent.
During the period, Vietnam continues spending the most on the import of machinery and equipment ($2.95 billion, up 16. per cent), fuels ($2.99 billion, up 23.8 per cent), clothes ($1.49 billion, up 34.6 per cent), steel and iron ($1.31 billion, down 15.2 per cent), garment and textiles accessories ($1.05 million, down 3.4 per cent), electronic spare parts ($910 million, up15.2 per cent) and plastics ($857 million, up 27.3 per cent).
In 2006, Vietnam is forecast to reach $37.44 billion in exports, up 18.5 per cent and spend $42-43 billion for imports this year, up 14-16 per cent on-year.
(GSO Jun 2006)
Vietnamese
