Vietnam’s gold, precious metal export up 180% in May

Export turnover of Vietnam’s gold and precious metals was estimated at $242.1 million in May, marking a surge of 180% from April, Vietnam General Custom reported.

In the first five months of the year, gold and precious metal export turnover was $396.7 million, down 58.0% on year and fulfilling 39.7% of year-target.

Meanwhile, Vietnam imported $20.56 million worth of gold and metals in May, up 8.7% from April.

In the first five months, gold and metal import turnover was $405.2 million, down nearly 59% on year.

Vietnam exported about 6 tons of gold in form of jewelry ($300 million) since early June, the online newspaper Thoi Bank Kinh Te Sai Gon reported, citing gold traders’ estimate.

The local media added that the gold exporting trend was expected to remain in coming time as domestic gold prices are much lower than global prices. – Stoxplus.com

Tags: vietnam gold, Vietnam gold market, Vietnam gold prices