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Trade deficit slashed to yearly low (25/09)
06/08/2010 - 16 Lượt xem
For the first nine months of this year, the trade deficit is expected to stand at 15.82 billion USD, with import turnover valued at 64.4 billion USD compared with export revenue of 48.57 billion USD, according to the GSO.
Vo Chi Thanh, an economics expert at the Central Institute for Economic Management, said that with a decrease in imports, along with measures to boost exports and stricter monetary policy, this year’s trade deficit is forecast to stand at between 19-20 billion USD, as set by the government.
Key import staples during the reviewed period include automobiles and automobile components, steel, paper, computers, electronic components, machines and equipment, fertilisers, plastic materials, milk and milk products.
According to the GSO, the country’s exports over the nine-month period posted a year-on-year increase of 39 percent. The domestic sector recorded a 44.1 percent rise, while the foreign-invested sector enjoyed a 35.1 percent increase against the same period last year.
Most of the export staples saw growths much higher than in the same period a year ago, with crude oil topping the list at 52 percent, followed by garments and textiles, wooden furniture, plastics, electric wires and cables, rubber, cashew nuts, seafood and pepper.-Enditem
Source: VNA
