Trade deficit to drop by 14.7 pct

Export turnover in the second half of June reached $6.86 billion, up by 6.5 percent compared to the results in the first half of June, according to the latest statistics of general Department of Customs (GDC).

Of that, exports rose by 12.1 percent (reaching $3.31 billion), imports increased by 1.7 percent (reaching $3.55 billion). In general, in June, exports reached $6.32 billion, imports reached $7.06 billion. Thanks to the strong growth of exports, in June, trade deficit was just $742 million, down by 14.7 percent compared to previous month.

The GDC’s latest statistics also show that, in the first two quarters of 2010, total export turnover of the country was $32.47 billion, up by 17 percent compared to the same period of 2009, of that there was a considerable contribution of the FDI business sector with an increase of 41.2 percent.

The recovery of the global economy has helped export value of many group of items go up significantly such as iron and steel (up by 243.2 percent); vehicles, components and spare parts (up by 115.2 percent); machinery and equipment (up by 69 percent); wood and wooden products (up by 34.1 percent); garment and textile (up by 17.6 percent); fishery products (up by 14.5 percent), etc.

Import value in the first six months reached nearly $38.76 billion, up by 29.1 percent compared to the same period of last year. Most major import products achieved growth rates, of that, machinery and equipment, iron and steel, plastics and raw materials had the strongest growths.

Tags: Vietnam trade, Vietnam trade deficit 2010

Posted by VBN on Jul 14 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