Vietnam trade deficit to reach $12.5Bln-$13Bln in 2010

Vietnam is estimated to incur a trade deficit of between $12.5 billion-$13 billion this year, compared with $12.246 billion last year, the General Statistics Office of Vietnam said.

The figures will make up between 18% and 19% of the country’s total export value in 2010, compared with the National Assembly’s cap of below 20%, the GSO said in a statement released late Tuesday.

Vietnam is estimated to have incurred a huge trade gap of $8.58 billion in the first nine months of this year, rising 19.8% from a year earlier, the office said.

The figure has accounted for 16.7% of the country’s total export revenue during the period, the GSO said, noting that the gap will widen to $11.4 billion, representing a higher ratio of 23.3%, exclusive of gold and jewelry exports.

Earlier, the Ministry of Planning and Investment earlier forecast Vietnam will run a trade deficit of $14 billon in 2010 while the Ministry of Industry and Trade gave more optimistic prediction at $11.5 billion and $13.5 billion. (GSO Sept Edition 2010) – GSO

Tags: Vietnam trade, Vietnam trade deficit 2010

Posted by VBN on Oct 1 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