Vietnam’s trade deficit touches $270m mark in first half of Aug

26-Aug-2011 Intellasia | Vietbiz24 | 7:01 AM Print This Post

During the first 15 days of August, Vietnam’s total export turnover reached over $4 billion, up 48 percent compared to nearly $2.7 billion of the same period in 2010, bringing the total figure from early this year to August 15 to $56.5 billion, rising 37 percent from over $41.2 billion of the same period last year, general Department of Vietnam Customs reported.

Also in the first half of August, the country’s key export items were still seafood, rice, crude oil, wood and wooden products, garment and textile and footwear, of which, export of apparel products reached the highest export turnover of nearly $673 million, up nearly 35 percent year-on-year.

The country’s export for gemstone and precious metals reached nearly $134 million, down 66 percent from the first half of July but increasing significantly from nearly $6 million in the H1 of last August.

Totally from start this year so far, the country’s export turnover for gemstone and precious metals fetched nearly $2.5 billion, up nearly 67 percent compared to over $1.5 billion of the same period last year.

Vietnam’s total import spending in the first half of August was $4.27 billion, rising nearly 36 percent from $3.15 billion in H1 of last August, bringing the total figure from early this year to August 15 to $62.21 billion, up nearly 27 percent over $49.19 billion of the same period last year.

Also in the first half of August, the country’s import for machines, equipments, tools and components posted the highest spending with nearly $673 million, rising nearly 33 percent year-on-year.

The import spending on oil and gas, computer, electronic products and components also surged strongly, of which, in the first half of August, the import value was up to nearly $323 million for oil and gas and over $324 million for computer and spare parts, up over 30 percent y-o-y.

Thus, in the first half of August, Vietnam’s trade gap was about $270 million, down nearly 33 percent against $450 million in the first half of last August. From the beginning of this year to August 15, the country’s trade deficit was $5.7 billion, down nearly 28 percent compared to $7.9 billion of the same period last year.

 


Category: Economy

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