HCM City’s trade gap estimated at $656m in 2011

HCM City’s total export and import turnover of goods in 2011 (excluding crude oil) is estimated to have reached $47.131 billion in 2011, rising nearly $7.58 billion from 2010 (up 19.2 percent on year), the HCM City Statistics Bureau reported.
Particularly, the total export turnover of goods of HCM City-based enterprises in December is estimated to be over $2.196 billion, down 7.5 percent from previous month and rising 10.5 percent compared to last December.

For the whole year, the city’s total export turnover of goods is estimated to be over $26.868 billion, rising 19.1 percent on year (in 2010, the rise was 46 percent on year).

Excluding crude oil, the city’s export turnover of goods would be nearly $19.607 billion, up 11.4 percent on year.

The city’s import spending in December is estimated to be over $2.8 billion, rising 0.9 percent on month and 13.1 percent on year. The domestic economic area posted an import value of nearly $2.229 billion, up 0.8 percent and foreign-invested economic area posted an import spending of $581 million, up 1 percent on year.

HCM City’s import spending for the whole year is estimated to be over $27.524 billion, rising 25.4 percent on year (the rise in 2010 was 8.1 percent on year).

The city’s trade deficit in December is estimated to be $613.4 million, lifting the total trade gap for the whole year to $655.9 million.

Notably, the city enjoyed a trade surplus of $730 million in Jan-October However, due to the pressure of high import in the last two months of the year, the city estimated to suffer a trade deficit in 2011.

Tags: Vietnam exports, Vietnam exports 2011, Vietnam trade

Posted by VBN on Dec 23 2011. Filed under Import-Export. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry