Hanoi trade deficit likely to reach $11.953Bln in Jan-Nov

Hanoi trade deficit is likely to reach $11.953 billion in the 11-month period of this year, the Hanoi Statistical Office said.

The capital city is estimated to have reaped $7.186 billion from exports year-to-date, up 25.1% on-year, and imported $19.139 billion, up 13.3%.

In November alone, the trade gap of Hanoi city is forecast to rise to $1.04 billion, up $70 million from August. In detail, Hanoi export revenue rose to $0.77 billion, up 3.1% on month and 5.1% on year while import turnover increased to $1.81 billion, up 6% on month and 1.2% on year.

Staples which saw the highest export revenue increase were textile and garment (+84.8%), electronics (+71.6%).

The office did not give any exact figures of import turnover.

The Hanoi Statistics Office earlier forecast that Hanoi will incur a huge trade deficit of $13.59 billion in 2010 with $7.81 billion exports, up 23.5% on-year, and $21.4 billion imports, up 13.1%.

Hanoi’s key export staples are footwear, apparel, handicrafts and electronics while its main imports are machinery and equipment, petroleum products, and iron and steel. – Stoxplus.com

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