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Vietnam expects to gain trade surplus of 100 mln USD in July

07-25-2012 11:40 BJT

HANOI, July 25 (Xinhua) -- Vietnam's export value in July is forecast to reach 9.6 billion U.S. dollars, a slight decrease against the previous month, while its import value was 9.5 billion U.S. dollars, down 29 million U.S. dollars against the June figure, which would post a trade surplus of 100 million U.S. dollars, reported the Ministry of Industry and Trade (MoIT) on Wednesday.

According to MoIT, in the 7-month period, the country's export turnover reached 62.933 billion U.S. dollars, an increase of 19 percent year-on-year. Products that gained an export value of more than 2 billion U.S. dollars include garments, telephones and appliances, crude oil, foot wear, sea food, coffee and wood-based items. Garments and textiles took the lead nationwide with an export value of over 8.2 billion U.S. dollars, up 21 percent year- on-year.

During the period, the country is estimated to spend 62.991 billion U.S. dollars for import, up 7.3 percent year-on-year, which would post a trade deficit in the first seven months at only 58 million U.S. dollars, a low record in many years.

MoIT also forecast the country's total export value this year would be around 109.5 billion U.S. dollars (up 13 percent), and import value of 115 billion U.S. dollars (up 7.7 percent) over the year 2011.

Last year, Vietnam witnessed a trade deficit of 9.5 billion U.S. dollars, according to the Vietnam General Statistics Office.

Editor:James |Source: Xinhua

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