Vietnam revises trade deficit at $8.4Bln in Jan-Sept

Vietnam’s trade deficit narrowed to $8.4 billion in the first nine months of this year, down from $8.58 billion estimated by the General Statistics Office in late September,the General Department of Customs said.

The figure represented an on-year rise of 17.3% and accounted for 16.3% of the country’s total export value during the period, compared to the National Assembly’s cap of 20% for the whole year, the department was cited by the Thoi bao Kinh Te online newspaper as saying October 24.

The Southeast Asian nation’s exports rose 23.3% on-year to $51.5 billion between Jan and Sept, equaling GSO’s estimate.

Meanwhile, Vietnam spent $59.9 billion on imports, up 24.4% on-year during the pe- riod, compared to the GSO’s estimated figure of $60.08 billion.

Vietnam’s exports and imports fell 11.1% on-month to $6.1 billion and 3.9% to $6.97 billion in September, respectively, resulting in the country’s trade gap of $870 million.

The Southeast Asian country’s trade deficit is likely to rise 5% from on-year to $13.5 billion in

2010, representing below 20% of the country’s total export revenues or meeting the NA’s cap set earlier this year, Prime Minister Nguyen Tan Dung said in a report presented at the opening ceremony of the eighth session of the 12th National Assembly (NA) on Oct 20.

Vietnam’s exports in 2010 are likely to rise 19.1% on-year, tripling the government’s target while its imports will increase 16.5%, the cabinet leader added.- VnEconomy

Tags: Vietnam trade, Vietnam trade deficit 2010