Google

ASEANAFFAIRS
Sign up | Log in

    ASEAN PROFILES

  ASEAN KEY DESTINATIONS

Home  >>   Daily News  >>   Vietnam News  >>   Trade  >>   Vietnamese trade deficit continues to rise
NEWS UPDATES Asean Affairs        26  May 2011

Vietnamese trade deficit continues to rise

Related Stories

May 19, 2011
Vietnam posts trade surplus with Indonesia

May 18, 2011
Vietnamese seaports to use e-customs

April 26, 2011
Garments, textiles lead surge in Vietnamese exports

The trade deficit increased to US$6.6 billion in the first five months this year compared to $5.4 billion in the same period of last year due to higher import value, according to the General Statistics Office (GSO).

The deficit occurred due to increased growth rates of $1 billion in January, $1.1 billion in February, $1.15 billion in March, $1.4 billion in April and $1.7 billion in May.

The May deficit saw a year-on-year increase of 17.3 percent, said Le Thi Minh Thuy, head of the GSO's Trade Department.

"The deficit can be reduced with the decrease of imported goods and materials in favour of domestically produced equipment and materials and the support of local industry development," Thuy said.

During May, export value rose to $7.5 billion from $7.437 billion in April while the import value surged to $9.2 billion from $8.93 billion in April, she added.

Total export value during the first five months of this year saw a year-on-year increase of 32.8 percent to $34.75 billion, three times higher than the yearly target of 10 per cent.

"The huge surge in export value during the first five months was mainly due to a sharp increase in world market prices, especially in terms of farm products, seafood, textiles and footwear, Vietnamese key exports," Thuy said.

Export value climbed by 113 per cent to $1.52 billion for rubber; 121.7 percent to $1.77 billion for coffee; 109.4 per cent to $580 million for cassava and products made from cassava; 37 per- cent to $2.98 billion for crude oil; 35.6 percent to $5.1 billion for textiles and 31.8 percent to $2.37 billion for footwear.

The State-owned sector saw a year-on-year growth of 31.1 per cent in terms of total export value during the first five months to $15 billion while the foreign investment sector saw a year-on-year growth in export value of 34.2 percent to $19.01 billion.

High world market prices, while advantageous to export value, disadvantaged import activities because high prices pushed the total trade deficit up, Thuy said.

Total import value during the first five months increased 29.7 per cent to $41.33 billion compared with the same period last year.


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
Contact: marketing@aseanaffairs.com

Comment on this Article. Send them to  your.views@aseanaffairs.com

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
 
or
submit your comment in the box below
Name

Name


Email

Email



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    26  May 2011 Subsribe Now !
 • Indonesian banks have fraud holes Subcribe: Asean Affairs Global Magazine
• Power deal on in Indonesia Asean Affairs Premium
• More 3G users in Asia
Research Reports
on Thailand 2007-2008

•Textiles and Garments Industry

•Coffee industry

•Leather and footwear industry

•Shrimp industry

 
• Thai seafood industry needs workers
• Tourist groups want Thai conflicts to end

• Vietnamese trade deficit continues to rise



p

Asean Analysis    26  May 2011

Advertise Your Brand
• Renewable energy shift in Asia? Sponsor Our Events

Asean Stock Watch    26  May 2011

 
• Asean Stock Watch-May 26 p

Global News Impacting Asia    17 November 2010

p

• Bank of America sees Asian inflation

p

• Lloyd’s increases insurance push in Malaysia

p

• Wells Fargo analyst on euro

p

• Obama’s visit to Asia

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

ASEAN  ANALYSIS

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

Our Products | Work with us | Terms of Use | Site Map | Privacy Policy | Refund Policy | Shipping/Delivery Policy | DISCLAIMER |

Version 5.0
Copyright © 2007-2015 TIME INTERNATIONAL MANAGEMENT ENTERPRISES CO., LTD. All rights reserved.
Bangkok, Thailand
asean@aseanaffairs.com