9:50:12 AM | 31/3/2008
Vietnam's capital city of Hanoi is estimated to have imported US$4.37 billion worth of commodities in the first quarter of this year, up 33.3 per cent on-year, Vietnam & World Economy newspaper reported March 24.
The city mainly imports petroleum products (US$1.45 billion, up 39.9 per cent), machines and equipment (US$1.23 billion, up 35.9 per cent), materials (US$1.06 billion, up 32.2 per cent), and consumer goods (US$625 million, up 17.8 per cent).
The large import spending is attributed to increasing prices in the world market and higher import demand of this year, said the municipal industry and trade department.
During the period, Hanoi earned US$1.23 billion from exports, up 24.9 per cent on-year, including US$414 million in March.
The figures result in the city's huge trade deficit of US$3.14 billion in the first quarter.
The city targets to rake in US$6.5 billion from exports in 2010 and obtain an annual export growth of 18 per cent-20 per cent during the 2006-2010 period. (Vietnam & World Economy)
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