Vietnam Posts $100-Million Trade Gap in October

Minh Tam

09:40 24/10/2015

BizLIVE - Vietnam reported an estimated trade deficit of $100 million in October, bringing the country’s trade gap up to $4.13 billion in the first ten months of 2015.

Vietnam Posts $100-Million Trade Gap in October

Vietnam reported an estimated trade deficit of $100 million in October. (Photo: Internet)

The country’s exports in October have increased 4.24% month-on-month to $14.4 billion while imports have risen 3.32% to $14.5 billion, according to the General Statistics Office (GSO).
In the ten months through October, Vietnam raked in an estimated $134 billion from exports, up 8.5% year-on-year, and spent $138.7 billion on imports, up 14.3% from the comparable period of 2014.
 Vietnam's trade balance in January-October. (Source: GSO)
Phones and spare parts remain the country’s largest export staple in the ten-month period, with their export value rising 32.7% year-on-year to $25.84 billion. Textile and apparel came second, bringing $19.2 billion, up 10.4% year-on-year.
Meanwhile, Vietnam has spent the most on machinery and components, whose imports advanced 26.8% year-on-year to $23.08 billion. The runners-up were electronic products and computers, and phones and spare parts.
Data of the government-run office showed that Vietnam imported an estimated 95,000 completed-built-unit autos worth $2.31 billion between January and October, rising 82.8% in volume and 100.2% in value from the same period of 2014.