Trade deficit falls in February

The nation’s trade deficit fell by 26 percent against the previous month to around 700 million USD in February.

The General Statistics Office (GSO) said that this is the third consecutive month the nation’s trade deficit posted a sharp drop.

The figure fell from 1.9 billion USD in December 2009 to 945 million USD in the first month of 2010 after hitting a record of 2 billion USD in November 2009.

GSO experts said that both export and import revenues fell by around 26 percent against January to around 3.7 billion USD and 4.4 billion USD in February as many international trade activities and domestic production were interrupted by the traditional Lunar New Year (Tet) festival.

The country’s export turnover reached more than 8.7 billion USD in the first two months of the year while import turnover was 10.4 billion USD.

vietnamplus

>   Vietnam's oil and gas liquids production to increase (26/02/2010)

>   Eurasia Group confident in investments in Vietnam (26/02/2010)

>   Price rises all round electricity set to become more expensive (26/02/2010)

>   The whispering campaign that uses super-stars to sell property (26/02/2010)

>   Ministry incentives to boost farming (26/02/2010)

>   Japanese to help build, maintain infrastructure (26/02/2010)

>   Tougher controls on taxis ‘must remain' (26/02/2010)

>   Land clearance, lack of capital obstacles to highway construction (26/02/2010)

>   Overseas investment planned to target selected City sectors (26/02/2010)

>   EVN plans new power plant projects (26/02/2010)