Hanoi’s trade gap estimated at over $13b in 2010

In 2010, Hanoi’s total export turnover is estimated to have reached $7.99 billion, up 26.3 percent from 2009, according to Hanoi Statistics Department.

The capital city’s import value in 2010 increased by 12 percent year-on-year, touching over $21.23 billion.

Thus, Hanoi’s trade deficit is estimated at over $13.24 billion, a 1.6 fold against export turnover.

The agency said that the strong growth of export turnover was thanks to the city’s key export items such as peripheral devices, computers, electronics, glass, electricity cables (increasing 30-40 percent) year-on-year whereas only two items fell in export turnover including coffee and pepper.

Notably, Hanoi’s rice export earned $370 million, surging 43.3 percent y-o-y, bringing the total export turnover of agricultural products to $867.4 million, rising 3 percent y-o-y and contributing 11 percent in the city’s export turnover.

The city’s export for apparel products posted a rise of 33 percent y-o-y.

Meanwhile, some commodities saw high import expenditures such as plastic (up 23.9 percent), oil and gas (17.5 percent) whereas fertiliser import fell strongly 40.8 percent y-o-y.

Especially, imports of state economic areas posted high growth of 16.8 percent y-o-y with import items such as complete built unit (CBU) cars, luxury consumer goods, alcohol, tobacco and furniture. – Vietbiz24

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