Export turnover reaches over US$64 billion in 11 months

Vietnam’s export turnover in November is estimated to reach US$6.4 billion, up 2.8 percent compared to last month, according to the General Statistics Office (GSO).

This is relatively high figure this year> However, in November, the country’s import turnover also hit a record high of around US$7.7 billion, up 5.5 percent over October.

In the past 11 months, export turnover is estimated to have reached more than US$64.2 billion, up 24.4 percent compared to the same period last year. Notably, cashew nuts, oil and gas are listed in the group that has posted an export turnover of more than US$1 billion.

Meanwhile, import turnover in the reviewed period is estimated roughly US$75 billion, up 19.8 percent over last year. Until November this year, import surplus was US$10.7 billion, equivalent to 16.7 percent of total export turnover.

According to economists, import surplus remain below the target (20 percent of export turnover). Because of a high inflation in the exchange rate of VND/US$, the long-term trade deficit balance will threaten macro-economic stability.

Tags: Vietnam export turnover, Vietnam trade

Posted by VBN on Nov 26 2010. Filed under Import-Export, Import-Export turnover. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry