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Vietnam H1 exports fall 10% to $27.57 billion
Vietnam's trade deficit for the first half of this year will plunge nearly 79 percent from the same period last year to US$3 billion following a drop of 10 percent in exports and a 31.6 percent fall in imports.
The Ministry of Industry and Trade estimated that exports hit $27.57 billion in the January to June period, while imports were $30.64 billion, the online version of the Vietnam Economic Times newspaper reported .
It quoted deputy minister Bui Xuan Khu as saying Vietnam's main export items fetched lower prices while export markets including the United States, the European Union and Asia had shrunk due to the economic crisis.
The report did not give a breakdown for Vietnam's key exports, such as crude oil, coffee and rice. The government is expected to release full trade data later this month.
The mininistry has forecast an annual trade deficit of $10-12 billion, following a 3 percent rise in exports and a 10 percent fall in the value of imports.
The ministry also reported first-half industrial output rose an estimated 6.2 percent to VND329 trillion ($18.5 billion) while domestic retail sales and services rose 22 percent to VND546.4 trillion.
Vietnews, Reuters
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