January 3, 2012
Vietnam’s trade deficit narrowed sharply to $9.5 billion in 2011, the lowest level in a decade, government estimates showed Wednesday, though concerns over the country’s economic stability remain. Exports rose 33.3 percent year-on-year to $96.2 billion, while imports were up 24.7 percent to $105.7 billion, the General Statistics Office (GSO) said in a preliminary [...]
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January 2, 2012
Vietnam will find it difficult to sustain into the new year the trade deficit reduction that it managed in 2011, given that it plans to reduce import tariffs on many products and that the ongoing global recession could hurt its exports, experts say. Vietnam’s trade deficit narrowed to US$9.5 billion from $12.4 billion in [...]
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July 22, 2011
Vietnam recorded a trade deficit of $200 million or less for the second straight month, after the government devalued the nation’s currency in February by the most since at least 1993 to help reduce the gap. The trade deficit was $200 million in July, up from a revised shortfall of $160 million in June, [...]
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July 21, 2011
Vietnam, which is battling high inflation and other economic problems, has added nearly $4 billion this year to its foreign reserves, a government report on Thursday said. The State Bank of Vietnam will further increase reserves by the end of 2011, the report to the National Assembly by Deputy Prime Minister Nguyen Sinh Hung [...]
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March 9, 2011
A shop assistant buys gold and jewelry from a customer at a gold shop in downtown Ho Chi Minh City. Vietnam plans to eliminate gold bullion trading in the unofficial market. The State Bank of Vietnam is planning to eliminate gold bullion trading in the unofficial market in a move to reduce speculation, reduce inflation, [...]
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November 23, 2010
Vietnam’s balance of payments deficit could be around $2 billion, or half of what the government is officially targeting, if the trade deficit can be contained, central bank governor Nguyen Van Giau said on Tuesday. "This year the target for the balance of payments is $4 billion, but up to now there is a [...]
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January 16, 2010
In order to reach the country’s target GDP growth rate of 6.5 percent in 2010, the industry and trade sector needs to meet other important targets To control inflation under these Government targets, the industry and trade sector should ensure the supply of essential goods to avoid price fevers. Keeping import growth lower than export According to [...]
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January 4, 2010
Top priority should be given to adopting a stable and sound policy so that businesses can borrow capital at safe interest rates without causing inflation, says economic expert Bui Kien Thanh. According to the National Assembly (NA) Committee for Economic Affairs, the Vietnamese economy has essentially overcome the most difficult period while the Government remains [...]
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December 21, 2009
Vietnamâs external position is âfairly healthy,â in spite of market concerns about the countryâs trade deficit, Barclays Plc said. Vietnamâs economy has âall the hallmarksâ of an emerging markets crisis, with growth poised to overheat as inflation quickens and foreign-exchange reserves fall, Nomura Holdings Inc. said this month. A decline in the reserves to less [...]
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December 5, 2009
Vietnam will limit imports not essential to the economy and try to increase exports to quickly narrow the trade deficit, Prime Minister Nguyen Tan Dung said. The Ministry of Industry and Trade will work with other agencies to adopt measures including tariffs to curb the import of non-essential goods, as well as implement other initiatives [...]
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