Trade deficit falls to lowest in one-year period

Việt Nam’s export, import and trade deficit values in first eight months of 2010 (the blue line: export value, the red: import value, and the green: trade deficit)

Last month’s export and import values stood at US $6.857 billion and US $7.252 billion respectively.

The export turnover, which increased by 13.7%, hit a new record compared to the peak year of 2008, meanwhile the  import  value just rose by 3.5% against July.

The export of rice, crude oil, coal, and precious metals and stones is attributed to the higher export figure.

In the first eight months, Việt Nam’s export and import turnovers reached US $45.4 billion (up 22.1% against the same period last year) and US $52.93 billion (up 25%) respectively.

The reviewed period’s trade deficit was US $7.53 billion, equivalent to 16.6% of the export turnover. In the first two quarters of 2010, the figure always stood around 20%.

By Hải Minh