Vietnam’s Jan-Oct Trade Deficit Stands at US$16.3Bln

Vietnam’s trade deficit in the first ten months of this year is predicted low at US$16.3 billion, an on-year increase of 76.59 per cent, said the General Statistics Office (GSO).

 

The slower growth of trade deficit in recent months proves the efficiency of the country’s measures to slow down increasing import trend. This means that the country’s expectation of a smaller trade deficit of US$19 billion this year [instead of initial predicted figure of US$20 billion] is within hands of Vietnam.

 

The country is forecast to reap US$53.77 billion from goods shipments during the time, up 36.7 per cent on-year and spend US$70.07 billion on imports, up 42.6 per cent.

 

In October, Vietnam exports US$5.1 billion worth of goods and imports US$5.8 billion, said the GSO.

 

Regarding Vietnam’s key export items, crude oil still tops the list with US$9.4 billion, up 43 per cent on-year, followed by garments and textiles with US$7.6 billion, up 20 per cent, footwear with US$3.7 billion, up 16 per cent, rice with US$2.6 billion, up 83 per cent, woodwork products with US$2.3 billion, up 18.5 per cent, electronics and computers with US$2.2 billion, up 27.3 per cent, coffee with US$1.69 billion, up 9.5 per cent, rubber with US$1.39 billion, up 28.9 per cent and coal with US$1.2 billion, up 57 per cent.

 

The nation is expected to rake in US$65 billion from goods exports and spend US$84 billion for imports in 2008, up 34.35 per cent and 38 per cent on-year, respectively. (GSO Oct 2008)