Vietnam trade deficit likely at $8.16B in Jan-Aug

Vietnam’s trade deficit is estimated at $900 million in August, widening the country’s eight-month gap to $8.16 billion, according to the government’s General Statistics Office.

The Jan-Aug deficit has made up 18.33% of the country’s total exports in the period, compared to the National Assembly’s full-year cap of 20%, the GSO said.

Excluding exports of gold products, Vietnam’s trade gap is likely at $9.8 billion in the eight-month period, it noted.

The Southeast Asian country has earned $44.52 billion from exports between Jan and Aug, rising 19.7% from a year earlier, while its imports rose 24.4% on-year to $52.68 billion.

The country is forecast to reap $67 billion from exports in 2010, up 17.3% on-year and import around $81 billion, resulting in its trade gap of about $14 billion, the Ministry of Industry and Trade said.

Economists have concerned that widening trade deficit is posing big challenges for the Vietnamese government’s effort to sustain economic growth in the rest of this year.

Tags: Vietnam trade, Vietnam trade deficit 2010

Posted by VBN on Aug 29 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