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Trade deficit could widen to $10 bln (18/10)
06/08/2010 - 135 Lượt xem
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Economists warn the trade deficit this year will be well over the US$9 billion figure projected by government. |
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It could top $10.1 billion at the rate it had been going this year, they forecast, saying it can be even larger if last year’s figures are any indication. It was $7.6 billion in the year to September, or a average monthly of $844 million. It has been rising, going up from less than $600 million in the first four months to 1 billion. If the average deficit in the next three months remains at $844 million, the deficit for the year will be $10.168 billion, equivalent to 21 percent of exports. But the experts say the gap could be even higher due to certain factors. Imports are traditionally higher towards the end of the year due to higher consumption before the Lunar New Year festival. The Government has cut import duties on some commodities to curb inflation and to deliver its commitments to the World Trade Organization. If the dong strengthens against the US dollar that will also boost imports, the analysts say. Besides, the strong flow of foreign investments into Vietnam means more machinery and equipment will be imported. |
