Vietnam net-imports 71 tons of gold in 12 years

Vietnam net imported 71 tons of gold from 1998 to September of 2010 as the country imported 339.86 tons and exported 268.86 tons, the State Bank of Vietnam (SBV)’s Governor Nguyen Van Giau said at the National Assembly’s meeting on November 22.

Vietnam net imported 71 tons of gold from 1998 to September of 2010 as the country imported 339.86 tons and exported 268.86 tons, the State Bank of Vietnam (SBV)’s Governor Nguyen Van Giau said at the National Assembly’s meeting on November 22 citing Vietnam Customs and the SBV’s figures.

As of October 15, total outstanding deposits of the public rose 0.64% from the end of 2009, equivalent to VND5.4trillion, Giau added, affirming that “the data above and observation of market conditions in the first 15 days of October showed no signs of deposit withdrawals from the banking system to buy gold and dollars”.

Year	Import (tons)	Export (tons)
1998	0.52	3.7
1999	0.53	6.7
2000	0.61	7.69
2001		7.57
2002	1.3	7.92
2003	15.38	7.35
2004	43.06	9.34
2005	8.32	9.43
2006	96.67	8.54
2007	58.01	12.18
2008	96.38	28.31
2009	12.21	87.25
9 months/2010	6.86	72.87
Total	339.86	268.86

The Governor revealed those figures as a response to the rumor of 1,000 tons of gold held by the public.

In a related news, Giau didn’t give any explanation for the rumor of $5billion of dollar holdings by the public. – Stoxplus.com

Tags: vietnam gold, Vietnam gold imports, Vietnam gold market