$1.2bn trade deficit in November bites

Vietnam exported $6.45 billion worth of goods in November, bringing the country’s total export value to $64.28 billion in 2010.

The figure represents a 24.5 per cent on-year rise, according to the General Statistics Office.

In the meantime, import values were estimated at $7.7 billion in November, bringing the country’s total to around $74.93 billion.

With these figures, the trade deficit stood at $1.25 billion in November against $1.07 billion in October and $1.05 billion in September 2010.

If excluding $2.85 billion from re-export of gold and other precious metals the trade gap stood at $13.47 billion, equal to 20.5 per cent of exports.

Vietnam’s trade deficit this year would be $12 billion, said Minister of Industry and Trade Vu Huy Hoang in late October, revising down an earlier estimate of $13.5 billion.

The figure was based on data through the end of October and forecasts for the last two months of the year, Hoang said. – Nhan dan

Tags: Vietnam trade, Vietnam trade deficit 2010