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Ten-month export turnover hits 53.8 billion USD (correction)
Vietnam ’s export turnover in the first ten months of this year reached 53.8 billion USD, a year-on-year increase of 36.7 percent, the General Statistics Office (GSO) reported.
Rice recorded the highest growth rate among export items, fetching 2.6 billion USD between January-October, a year-on-year increase of 83 percent. This was followed by coal with a value of 1.2 billion USD, up 57 percent; crude oil with 9.5 billion USD, up 43 percent; and garments and textiles with 7.6 billion USD, up 20 percent from the same period a year ago.
The export of footwear, electronic appliances and computers, coffee, rubber and wood products also kept up high export values and growth rates.
In October, however, the global prices of a variety of products dropped, having a great impact on a number of Vietnamese export products. The export values of crude oil and rice fell by almost 100 million USD compared to September, while rubber and coffee export values fell by tens of millions of USD.
The country earned just 5.1 billion USD from exports in October, against 5.3 billion USD the previous month.
In terms of imports, Vietnam imported goods worth 5.8 billion USD in October, bringing the turnover in the first ten months of this year to over 70 billion USD, a year-on-year increase of 42.6 percent.
As a result, the trade deficit was 700 million USD in October and 17 billion USD over the first ten months of 2008. Experts said that the target of keeping trade deficit at 19 billion USD for 2008, equal to 29 percent of export value, is within reach.
According to a number of experts, the global financial crisis will create new obstacles to the country’s export during the remaining months of the year.
In these circumstances, the government’s strategy of increasing exports, controlling imports and reducing the trade deficit was reaffirmed during the on-going session of the National Assembly to reach the set goals of earning 76.7 billion USD from exports and maintaining the trade deficit at 20.7 billion USD for 2009.
VNA
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