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Trade deficit decreases (22/8)
22/08/2013 - 16 Lượt xem
This proves that the central government and relevant ministries and authorities went the right way in their management.
Foreign
trade has been contributing to the country’s socioeconomic development.
From 2005 to now, exports grew an average of 20.77 percent per year,
while imports improved 18.23 percent per year on average. In 2009 alone,
both exports and imports decreased due to world economic recession.
Trade
deficit has been decreasing to balance imports and exports in
accordance with the government’s schedule. Specifically, trade deficit
decreased from more than US$18 billion in 2008 to US$12.6 billion in
2010 and US$9.84 billion in 2011. Vietnam exported US$748.8 million more
than it imported in 2012 and saw a trade deficit of only US$733 million
in the first seven months of 2013.
This
is an important achievement. Economic experts warned a long ago that
big trade deficit means high inflation. Hence, decreases in trade
deficit in recent years effectively helped inflation control and
macroeconomic stability.
That
important achievement was not only attributed to the government, the
Ministry of Industry and Trade and relevant ministries but also the
successful construction and development of key exports.
Vietnam’s
exports were only US$32.4 billion in 2005, which is 44 percent of those
in the first seven months of 2013. Also in 2005, Vietnam had only five
export items that yielded US$1 billion upwards, including crude oil
(more than US$7 billion), textiles and garments (US$4.77 billion),
footwear (US$3 billion), electronics and computers (US$1.4 billion) and
rice (more than US$1.4 billion).
In
2012, Vietnam had 18 export items worth US$1 billion upwards. Mobile
phone and related component exports increased considerably from US$10.4
million in 2005 to US$12.7 billion in 2012 and US$11.63 billion in the
first seven months of 2013.
Cassava
exports were US$139 million in 2005, US$960 million in 2011 and
US$1.351 billion in 2012, while vegetable and fruit exports came to
US$235 million in 2005, US$623 million in 2011, US$827 million in 2012
and US$576 million in the first seven months of 2013 (up more than 28
percent from the same time in 2012).
Construction
and development of key exports pertaining to trade deficit control was
one of encouraging successes of the industry and trade sector in recent
years./.
Source: VEN.
Source: VEN.
