According to the Asia-Africa Market Department under the Ministry of Industry and Trade, Vietnam is running a US$5.9 billion trade deficit with the region, a year-on-year decrease of 9.5%, due to petroleum imports.Vietnam’s primary sources of imported products were Thailand, Indonesia, Singapore, and Malaysia. Imports from Thailand jumped 16.3% to an estimated value of US$10.3 billion, with trade dominated by products such as machines, equipment and tools (US$944 million), petroleum (US$910 million), fruit and vegetables (US$866 million), plastic materials (US$639 million), computers and components (US$621 million), and chemicals (US$372 million).Meanwhile, imports from Malaysia surged by 10% to US$5.7 billion with key products being petroleum (US$1.18 billion), computers and electronic products (US$1.10 billion), machines, and tools and equipment (US$643 million).Imports from Singapore are estimated at US$5.3 billion, up 11.5% on the previous year, with petroleum imports accounting for 42% at US$2.2 billion.Vietnam also bought more than US$1 billion worth of products from Cambodia, a year-on-year rise of 41.4%, with key products being wood and timber goods, cashew nuts, and rubber.
Vietnam incurred a huge trade deficit of US$910.8 million with India in the first nine months of this year, according to the Indian Embassy in Vietnam. The Southeast Asian country imported US$1.17 billion worth of goods from India during the time and exported US$259.2 million, said the embassy without giving comparative figures. Computers, electronics and spare parts, coffee, pepper and tea were Vietnam's key exports while steel, animal feed materials, pharmaceuticals, machines and equipment were its main imports during the time. Trade between Vietnam and India is forecast to hit US$5 billion in 2015, doubling last year's figure, President of…... [read more]
Vietnam, a new WTO member, has faced trade deficits with ASEAN countries, including Singapore, Malaysia and Thailand, said foreign Commerce Offices. Singapore’s exports to Vietnam in 2006 and in the first seven months of 2007 tripled against contrary direction. In 2006, Singapore exported Vietnam-sourced goods worth nearly US$8.7 billion but spent only US$2.6 billion on imports from Vietnam. Malaysia’s exports to Vietnam in recent three years were always valued at over US$1.2 billion while Vietnam only exported goods to the foreign country worth US$1 billion last year. Thailand’s export value to Vietnam hit US$1.33 billion in 2004, up 44.59 per cent on-year while the…... [read more]
Vietnam ran a huge trade deficit of $10.5 billion with its neighboring China in the first ten months of 2010, compared to the country's Jan-Oct sum of $9.4 billion revised by the General Statistics Office on November 29. The bilateral trade rose to $21.3 billion during the period, of which, Vietnam reaped $5.4 billion from exports to China, up 45% on-year, and imported $15.9 billion, up 22.8%. The Southeast Asian nation's main imports were machinery and equipment with $3.6 billion, cloth with $1.8 billion, computers and spare parts, and steel iron with the same value of $1.3 billion. Vietnam's imbalances…... [read more]
Vietnam said Thursday it expects to post a $100 million trade deficit for January due to a 30.8 percent surge in imports from a year earlier to $3.4 billion. "This is a rather high increase when compared with the export growth and also the relatively low import value in the first month of last year," the General Statistics Office said in its monthly report. The Southeast Asian country's trade deficit for the whole of last year widened 8 percent from 2005 to $4.81 billion. January exports are forecast to rise 7.7 percent to $3.3 billion from January 2006 when Vietnam…... [read more]
Vietnam ran a huge trade deficit of $14.06 billion with China in the first eleven months of this year, compared to the former's Jan-Nov trade gap sum of $10.656 billion, the Chinese General Department of Customs said. The bilateral trade soared 43.2% from a year earlier to $26.39 billion during the period, surpassing the two nations' earlier target of $25 billion for 2010, the Ministry of Industry and Trade cited the department as saying. Of the sum, Vietnam imported $20.22 billion worth of goods from China, up 42.4% on-year and exported $6.16 billion, up 46.1%. In November, Vietnam's exports to…... [read more]
