Vietnam trade deficit forecast at $3Bln in Q1

Vietnam trade deficit is expected to slow down to $3 billion or 15.5% of export revenue in the first quarter of this year, compared with $3.6 billion in the same period of 2010

Vietnam trade deficit is expected to slow down to $3 billion or 15.5% of export revenue in the first quarter of this year, compared with $3.6 billion in the same period of 2010, the state-run Chinhphu.vn reported March 15, citing Nguyen Tan Dung, Prime Minister of Vietnam as saying at the cabinet on stabilizing macro-economic.

Vietnam is forecast to export $18.8 billion worth of goods, sharply up 29.7% on year while and export around $21.8 billion, up 23.9% on year.

Vietnam Customs revised up the country’s trade deficit to $1.88 billion in the first two months of this year from the primarily estimation of $1.83 billion by the General Statistics Office in late February.

The Ministry of Industry and Trade (MoIT) is taking measures in an effort to cut down the trade deficit targeted at $12.62 billion or 16% of total export revenue this year compared with earlier target of 18%, the online newspaper dvt.vn reported on March 3, citing MoIT source.

At the cabinet on stabilizing macro economy on late February 22, Prime Minister ordered the related ministries to continue measures to restrict the trade deficit as intense exchange-rate volatility and an imbalance in foreign-currency supply and demand. – Stoxplus.com

Tags: Vietnam trade deficit 2011

Posted by VBN on Mar 16 2011. 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