Trade deficit balloons 60% to US$11b of exports
08-MAY-2008 Intellasia | Nguoi Lao Dong
May 8, 2008 - 7:10:00 AM
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The total import spending in the first four months of 2008 is estimated at US$29.36 billion, rising by over 70% year-on-year, reported yesterday the Ministry of Industry and Trade. Therefore, with the export turnover of US$18.28 billion in the period, Vietnam's trade deficit was about US$11.07 billion due to increasing purchase power and sudden rises in prices of petroleum, steel, chemical, and equipments machines.
Imports of steel and steel billet was increased two fold while that of petroleum up 71.1%, paper and below 12 seat cars up 11 times.
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