BUSINESS INFORMATION - Vietnam Trade Deficit Estimate Natural

BUSINESS INFORMATION - Vietnam Trade Deficit Estimate Natural


Vietnam, Tuesday, predicted the trade deficit during the ten months of this year from nearly the same period last year.

Hanoi said the lack of exports and imports was 8.78 billion U.S. dollars for the period January-end of October, compared to 16.2 billion in 2008.

Exports during the period fell 13.8 percent compared to the same period last year to 46.33 billion dollars, while imports fell 21.7 percent to 55.11 billion dollars.

General Statistics Office predicts crude oil imports fell 47.9 percent and sales of crude oil also fell 43 percent.

In that period, steel imports fell 30.7 percent while expenditures for machinery and equipment production also fell 13 percent.

According to the GSO preliminary report, in October alone, Vietnam's trade deficit estimated at 1.9 billion dollars.

The government last week's projected 5.2 percent growth for the economy this year, while the Prime Minister Nguyễn Tấn Dũng said cabinet to target growth of about 6.5 percent for the year 2010.