Hanoi Trade Deficit Widens to $13 Billion in 11 Months

Tuan Minh

09:27 23/11/2015

BizLIVE - Vietnam’s capital city of Hanoi is likely to have incurred a trade deficit of $12.99 billion in the first 11 months of this year, widening from a gap of $11.84 billion between January and October.

Hanoi Trade Deficit Widens to $13 Billion in 11 Months

A view of Dinh Vu port, Hai Phong city. (Photo: viweco.vn)

The city’s exports are estimated to have risen 3.1% year-on-year to $10.21 billion in the 11-month period while imports have grown 5.1% to $23.19 billion, leading to a trade deficit of $12.99 billion, the municipal Statistics Office said in a report released on November 20.
Foreign-invested enterprises in the city have seen their exports up 3.8% year-on-year to $5.05 billion and their imports up 4.5% to $4.86 billion in the period, resulting in a trade surplus of $193 million.
During the period, exports of glass and glass-made products, apparel and footwear in the city witnessed high growth rates while imports of steel and machinery and spare parts increased 12.4% and 19.8% year-on-year, respectively.
The office added that the city’s index of industrial production has expanded 8% year-on-year in the 11-month period, buoyed by an 8.3% increase in the manufacturing and processing sector, a 7.2% rise in the electricity production and distribution sector, and a 2.8% increase in the water supply, sewage and waste treatment sector.


Từ khóa: hanoi