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Vietnam's jan-sept trade gap at $7.59 bln: Customs
Vietnam's trade deficit hit $7.59 billion in the first nine months of the year, exceeding an earlier estimate of $6.84 billion, Vietnam Customs said on Monday, potentially adding to depreciation pressures on the currency.
In September, the gap was $1.5 billion, the agency, which is under the Finance Ministry said in a report. The General Statistics Office had estimated in late September a $1 billion trade deficit for the month. The country's persistent trade deficit has been a factor behind the fall in the dong since 2008.
The deficit in the first nine months is still well below the Industry and Trade Ministry's target of $11 billion for this year, after last year's $12.6 billion deficit. Vietnam's exports in the January-September period jumped 34.9 percent from the same period last year to $69.7 billion, while imports rose 27.7 percent to $77.3 billion, the data showed. Imports tend to rise in the last quarter of the year as businesses speed up production before the lunar new year festival known as 'Tet', Vietnam's largest holiday of the year.
Vietnam may have a surplus of the total balance of payment at $2.5 billion this year given the trade gap and the foreign exchange market well are monitored, state media have quoted central bank governor Nguyen Van Binh as saying.
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