Vietnam H1 Trade Deficit Narrows to $6.29B: Customs Dept.

The General Department of Customs has said Vietnam’s trade deficit narrowed to $6.294 billion in the first half of this year, down from $6.728 billion estimated by the General Statistics Office in early July.

 

The figure accounted for 19.38% of the country’s total export value during the period, compared to the National Assembly’s cap of 20% for the whole year, the department said on its website late July 9.

 

The Southeast Asian nation exported $32.759 billion worth of goods in H1, rising 17% on-year, and spent $38.759 billion on imports, soaring 29.1%.

 

In June, the country’s exports rose 0.1% on-month to $6.317 billion and its imports fell 1.7% on-month to $7.059 billion, resulting in Vietnam’s trade gap of $742 million, the lowest figure in the year to date, the department said.

 

Vietnam’s export value is forecast to rise 16.6% and 18.37% from a year earlier to $66 billion and $67 billion this year, outstripping the National Assembly’s and Government’s set target of 6%, Head of the Export and Import Department Phan Van Chinh said at an online meeting of the Ministry of Industry and Trade July 6.

 

The Southeast Asian nation is predicted to import between $80 billion and $81 billion worth of goods in 2010, up 16.23% and 17.68% on-year, resulting in the country’s trade gap of $13 billion and $15 billion. (www.customs.gov.vn, GSO)