Vietnam-ASEAN Trade Drops 30% to US$17.8B in Jan-Oct
Trade between Vietnam and other ASEAN nations dropped 30% to US$17.8 billion in the first ten months of this year due to negative effects of the global economic downturn.
Of the sum, Vietnam exported US$7.1 billion worth of goods to ASEAN and imported US$10.7 billion, according to Director of the Ministry of Industry and Trade’s ASEAN Department Le Trieu Dung.
The country incurred US$3.6 billion trade deficit with the bloc during the period, down from US$9.3 billion of the same period last year, Dung said.
In 2008, Vietnam earned US$10.194 billion from exporting goods to ASEAN and imported US$19.57 billion, resulting in the country’s huge trade deficit of US$9.38 billion. (VNS)
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