Vietnam suffers $0.1bln trade deficit in jan 2012: moit

Vietnam’s state budget deficit is estimated to have been narrowed to $0.1 billion in January 2012, a sharp fall from that of $0.27 million in December 2011, the Ministry of Industry and Trade (MoIT) said.

Vietnam is estimated to have earned a total of $6.5 billion from exports in January, making a decrease of 11.1% on year and 28.5% on month.

Meanwhile, the country spent $6.6 billion to import goods, falling 29.5% from a year earlier and 18.7% from December 2011.

Export products which suffered the highest on-month decline in January are electronics, computers and spare-parts (down 34.5%), textile and garments (down 26.9%), wood and wood products ( down 27.5%) and rubber ( down 31.3%).

In term of imports, vehicles and spare-parts recorded the highest on-month fall with 94%, followed by metals with 58% and animal fat and vegetable oil ranked third with 52%.

The MoIT said that the long holidays of the New Year and Lunar New Year which fell on January is a reason causing the slump both in import and export revenues.

Source TEI/StoxPlus

Tags: Vietnam exports, Vietnam exports 2012, Vietnam trade

Posted by VBN on Feb 1 2012. Filed under Import-Export. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry