Trade deficit falls to US$9.5 billion this year

Trade deficit falls to US$9.5 billion this year

Vietnam’s trade deficit is estimated at around US$9.5 billion this year, down nearly 25 percent from last year, said the General Statistics Office (GSO).

The import surplus made up only 9.9 percent of the total export value and much lower than the set target of 16 percent.

The GSO said that the country’s export turnover in December is nearly US$9 billion, while import turnover is predicted to reach US$9.6 million, up 2 percent against the previous month.

As a result, Vietnam has earned nearly US$100 billion from export this year, up 33 percent compared to 2010, with key export items being garments and textiles, crude oil and footwear.

According to the GSO, the total import turnover is more than US$100 billion, up nearly 25 percent against last year. Key import items include machinery, equipment, oil and gas, electronics and components.

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