Vietnam October trade deficit falls 50% mom to 0.75bln

Vietnam was estimated to incur a trade deficit of $0.75 billion in October, down 50% on-month, down 33% on year, the General Department of Vietnam Customs said. In the second half of October, the country’s trade deficit was estimated at $0.24 billion, decreasing 55% from the first half of the month. The country’s total import-export revenues were estimated at $4.5 billion in Oct 16-31th period, up 36.6% from Oct 1st-15th, the General Department of Vietnam Customs added. Vietnam spent $4.74 billion for importing goods and services in the second half of October, increasing 24.1% from the first 15 days of the month. Vietnam’s total export revenues were estimated at $78.56 billion in the first 10 months of the year, up 35.5% on year. Of which, foreign direct investment sector (FDI) contributed $37.83 billion or 48.2%, making an 38.6% increase from the same period last year. The Southeast Asia country had imported $86.77 billion worth of goods and services in Jan-Oct period, up 27.7% on year. Of which, the FDI sector spent $38.89 billion ( 44.8%) for import, up 31.2% year-on-year. The country’s trade deficit was estimated at $8.21 billion in the first 10 months of the year, down 18% on year and equal to 10.8% export revenues. Earlier, the General Statistics Office estimated Vietnam’s trade deficit at $0.8 billion and $8.4 billion for October and the first 10 months of the year, respectively. Source TEI/StoxPlus