Vietnam’s trade deficit touches $6.09b

According to latest statistics released by General Department of Customs, from the beginning of this year up to June 15, 2010, Vietnam’s trade deficit touched approximately $6.09 billion dong, accounting for 20.9% of the total import-export turnover of $64.27 billion dong.

In the first half of June 2010 alone, Vietnam booked an estimated trade deficit of $536 million, increasing by 26.8% against that of previous two months.

The country’s total trade value in the first 15 days of June was posted at $6.44 billion, in which export value reached $2.95 billion and import cost of $3.49 billion, down 7.9% against the second half of May.

However, in comparison with the same period of May, the total trade value in June was still 2.8% higher.

Therefore, in terms of exports, in the first 15 days of June, Vietnam earned $2.95 billion from export, down 10.1% or $333 million against the second half of May.

Vietnam’s export turnover dropped in the first two weeks of June because of sharply decreasing exports of some major groups of export items such as crude oil down $233 million or 59.1%, rice -$60.2 million or 34.2%, steel products -$18.4 million or 33.3% from the last 15 days of May.

Meanwhile, the export turnover of precious stone and metal products increased by $43.9 million, apparel up $29.9 million, rubber up $27 million, footwear up $12.2 million and electric wire up $10.2 million.

The country’s import expenditure in the first half of June is estimated at $3.49 billion, down 5.9% or $220 million against the previous report period.

Tags: Vietnam trade, Vietnam trade deficit 2010