Sign up | Log in



Home  >>   Daily News  >>   Vietnam News  >>   Economy  >>   Vietnam forecasts trade deficit of US$6.6 billion
NEWS UPDATES Asean Affairs        28  June 2011

Vietnam forecasts trade deficit of US$6.6 billion

Related Stories

June 21, 2011

Vietnam businesses lack confidence

June 15, 2011
Vietnam hosts workshop on sustainable development

June 10, 2011

Vietnam's busy year for M&A

May 27, 2011
Vietnam's economy gets positive EU review

May 19, 2011
Japanese firm sites plant in Vietnam

May 10, 2011
Firms in Vietnam defy dollar rules

May 5,2011
Vietnam eyes foreign reserve disclosure

Vietnam's export value in June was estimated to hit US$7.8 billion, lifting the total export value in the first half of this year to more than $42.33 billion, a rise of 30.3 percent over the same period a year earlier, according to the General Statistics Office.

The import value in June was forecast to reach $8.2 billion, bringing the total value for the first six months to almost $49 billion, a year-on-year increase of 25.8 percent.

According to these figures, the trade deficit for the first half of the year is estimated to reach more than US$6.65 billion – the highest it has been since the beginning of this year. The trade deficit was just $1 billion in January, $1.83 billion for the first two months, $3.03 billion for the first three months, $4.9 billion for the first four months and nearly $6.59 billion for the first five months.

The January-June trade gap accounts for 15.7 percent of the export value during the period, lower than the Government's target of 16 percent set for the whole year. However, according to the statistics office (GSO), the trade deficit actually made up 18.1 percent if the value of gold exports was excluded during that period.

Le Minh Thuy, head of the GSO's Trade Department, blamed the high trade deficit in the first half on the high import demand of domestic enterprises which was worth nearly $27.58 billion, a rise of 22.9 per cent year-on-year, and higher than the import value of foreign-invested enterprises which was worth $21.41 billion, a rise of 29.7 percent year-on-year.

The import value of machinery-equipment-devices, and accessories and spare parts was the highest, reaching over $6.93 billion, a rise of nearly 11 percent year-on-year. Due to the increased global prices, the value of fuel imports reached $5.49 billion, a rise of 40.3 percent year-on-year, despite the volume being down 2.1 percent.

The import value of many of raw materials used for domestic production also rose due to increased global prices, including plastics up 31.5 percent; fabric, 38.1 percent; steel, 7 per cent; electronics, computers and spare parts, 23.2 percent and cotton, 103.6 percent.

Agricultural imports also climbed, with the import value of wheat reaching $467 million, a rise of 58.5 percent; cooking oil $404 million, up 39.1 percent; vegetables $407 million, up 14 per- cent and seafood $206 million, up 35.5 percent .

Automobile imports reached almost $1.55 billion, a rise of 16 percent, of which imports of CBU (complete built unit) reached 31,600 units worth $593 million, an increase of 37.1 percent in volume and 45.9 percent in value.


Reach Southeast Asia!
10- Nations, 560- Million Consumers
And $1 -Trillion Market
We are the Voice of Southeast Asia Media Kit
The only Media Dedicated to Southeast Asia Advertising Rates for Magazine
  Online Ad Rates

Comment on this Article. Send them to

Letters that do not contain full contact information cannot be published.
Letters become the property of AseanAffairs and may be republished in any format.
They typically run 150 words or less and may be edited
submit your comment in the box below




1.  Verifier

1. Verifier

For security purposes, we ask that you enter the security code that is shown in the graphic. Please enter the code exactly as it is shown in the graphic.
Your Code
Enter Code

Today's  Stories    28  June  2011 Subsribe Now !
 • Ramba to explore more Subcribe: Asean Affairs Global Magazine
• SBY’s popularity is down Asean Affairs Premium
• Malaysia sets women’s affirmative action goal
Research Reports
on Thailand 2007-2008

•Textiles and Garments Industry

•Coffee industry

•Leather and footwear industry

•Shrimp industry

• Philippines government Muslim rebels discuss peace
• Thai firm scores IKEA contract
• Phuket property markets recovers
• TPP trade pact moves forward
• Vietnam forecasts trade deficit of US$6.6 billion p

Asean Analysis    28  June  2011

Advertise Your Brand
• Philippines-US naval exercises come at tense time Sponsor Our Events

Asean Stock Watch    28  June  2011 

• Asean Stock Watch-June 28 p

ASEAN NEWS UPDATES      Updated: 04 January 2011

 • Women Shariah scholars see gender gap closing
• Bank Indonesia may hold key rate as inflation hits 7 percent

• Bursa Malaysia to revamp business rules
• Private property prices hit new high in Singapore
• Bangkok moves on mass transport
• Thai retailers are upbeat
• Rice exports likely to decline
• Vietnamese PM projects 10-year socioeconomic plan


This year in Thailand-what next?

AseanAffairs   04 January 2011
By David Swartzentruber      

It is commonplace in journalism to write two types of articles at the transition point between the year that has passed and the New Year. As this writer qualifies as an “old hand” in observing Thailand with a track record dating back 14 years, it is time take a shot at what may unfold in Thailand in 2011.

The first issue that can’t be answered is the health of Thailand’s beloved King Bhumibol, who is now 83 years old. He is the world's longest reigning monarch, but elaborate birthday celebrations in December failed to mask concern over his health. More


Home | About Us | Contact Us | Special Feature | Features | News | Magazine | Events | TV | Press Release | Advertise With us

| Terms of Use | Site Map | Privacy Policy  | DISCLAIMER |

Version 5.0
Copyright © 2006-2021 TIME INTERNATIONAL MANAGEMENT ENTERPRISES CO., LTD. All rights reserved.
Bangkok, Thailand