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First quarter of 2007 trade deficit of 1.3 billion U.S. dollars in Vietnam
Views:1580  UpdateTime:2009-10-19

 

     According to preliminary data from General Statistics Office, in the first quarter of 2007, there were 13 billion dollars in Vietnam's trade deficit. Exports reached 10.5 billion U.S. dollars, an annual increase of 17.9%. The value of exports compared with the goals set by the National Assembly increased 0.5%. Strong growth in exports thanks to Vietnam's accession to the World Trade Organization, although the three main commodity exports have shown a downward trend.
     Crude oil exports 1.7 billion U.S. dollars, down 14.6%, rice 44.3% decrease to 710,000 tons. Rice exports fell within expectations, as occurred in late 2006 locust disasters result in reduced yields, the government forced restrictions on rice exports.
     Rubber exports fell 9.4% to 148,000 tons.
     However, exports to 25 other varieties are still growing more than. Clothing and textile companies to export 1.65 billion U.S. dollars, the annual ratio increased 30.1%, footwear export 918 million U.S. dollars, an increase of 13.9%.
     A quarter of total exports of coffee doubled, to 695 million U.S. dollars, seafood increased 11.9% to 678 million U.S. dollars. Overall, imports grew even greater, particularly machinery, petroleum products.
     Total scale of imports reached 11.8 billion, compared with same period in 2006 increased 33.6%. Machinery and equipment imports 2.2 billion, were up by 66.1%, petroleum products imports to expand to 200 million tons, or 14 billion U.S. dollars.
     Steel imports also increased to 150 million tons, increased 41.1%, worth 820 million U.S. dollars. 2006 trade deficit reached 4.8 billion.