Vietnam trade deficit likely to reach $7.96 Bln as of Sept 15

Vietnam trade deficit is likely to reach $7.96 billion as of September 15 this year including $440 million in the first half of September or 16.5% of the export revenue, the Vietnam Customs said.

As of September 15, Vietnam exported $48.29 billion worth of goods, up 23.3% on year while the Southeast Asian country spent $56.25 billion to import goods, up 24.5% on year.

In the first half of September, Vietnam exported over $2.85 billion worth of goods, down 31.4% from the second half of August while the country imported $3.29 billion worth of goods, falling to 20% from the end of August.

The broader trade gap in the first half of September compared with those of the second half of August, resulted from sharper drop in export revenue.

In September 1-15 period, 31.4% decrease in export revenues was driven mostly by a fall in precious metals and gemstone export (-$492 million), machine and equipment (-$ 66 million),steel (-$ 25 million), textile (-$138 million), footwear (-$94 million), seafood (-$69 million), rubber(-$48 million), rice(-$44 million).

The fall in the import expenses mostly came from the decline in key import items including gasoline (-$232 million), transport vehicle and equipment (-$184 million), cloth (-$24.6 million), steel bullet (-$24 million), textile material (-$22 billion), fertilizer (-$21.5 million). – Stoxplus.com

Tags: Vietnam trade, Vietnam trade deficit 2010

Posted by VBN on Sep 23 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