September’s trade gap bigger than estimate: Customs

October 20, 2011 | 11:46
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The General Customs Department of Vietnam has revised the country’s trade balance for September to a deficit of $1.57 billion, up $570 million from previous estimate.

The General Statistical Office (GSO) late last month estimated the country’s trade deficit at $1 billion.

Actual exports and imports in September hit $7.94 billion and $9.44 billion, down some $360 million and $140 million from GSO’s data, said the department.

As a result, the country had a trade deficit of $7.59 billion in the first nine months of this year, accounting for 10.9 per cent of the country's total export turnover.

The newly release figure, a year-on-year decrease of 14 per cent, was much higher than $6.84 billion previously announced by GSO, which accounted for 9.77 per cent of the total export turnover in January-September.

Vietnam's trade gap was $600 million the second half of September, while total export turnover in the same period reached $4.32 billion, up 25.6 per cent from the first half of September, said the department.

Some items posted high export turnover such as telephones and accessories, rubber, rice, apparel products, computers, electronic products and components.

Vietnam's import spending in the same period was $4.92 billion, up 8.8 per cent from the first half of September.

Some commodities with high import values in H2 included petrol (up $208 million), gemstone and precious metal and its products ($93 million), computer, electronic products and spare parts (up $88.6 million).

Exports and imports rose 34.9 per cent and 27.7 per cent year on year to $69.73 billion and $77.32 billion respectively in January-September.

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