The Hanoi Times - Vietnam doesn't just import cars from the US and beef from Argentina.Now it also imports apples and pears from South Korea and vegetables from Italy. That's a part of the explanation why the trade deficit has grown sharply in the last months of the year. Our appetite for imports has become our headache.Experts warn that as a consequence of the decision by the State Bank to resume gold imports in November, Vietnam's trade deficit for all of 2009 will be much higher than the $10.2 billion recorded for the year's first eleven months. Vietnam imports more cheese than China The French Lactalis International Group late last week officially appointed Hoang Lan, a HCMCity company as the distributor of its dairy, cheese and butter products in Vietnam.Hoang Lan's 'impressive achievement' is that in ten years of market development, Lactalis sells 500 to 600 tonnes of President brand cheese in Vietnam every year. The sales volume is the highest in Asia. Minh Sao, a company … [Read more...] about Where does the trade deficit come from?
Trade deficit india
VGP - India has become one of top ten trade partners of Vietnam in the recent years, which has created favorable conditions for Vietnamese businesses to boost up exports to the market. According to the Vietnam Commercial Affairs in India, the country's trade deficit has fallen in the recent years with US $1,705 billion in 2008, US $1,215 billion in 2009, US $753 million in 2010. The two-way trade turnover reached US$1.85 billion in the first half of this year, of which export and import value of Vietnam is estimated at US$755 million, up 23% and US$1.09 billion, down 18%, respectively. The first half's trade deficit only stood at US$335 million, down 45%. Among 23 exported products, rubber ranks first in terms of export revenue with US$59.1 million, followed by cashew US $8.3 million, computers and electronics US$65 million, chemicals US$24 million, and mobile phones US$171 million. Two-way trade turnover expected to hit US$7 billion by 2015 Vietnam and India set the goal to lift … [Read more...] about VN narrows trade deficit with India
Vietnam considers India a major market and will strive to bring two-way trade to US$1 billion by 2006, an official of the Vietnam Chamber of Commerce and Industry (VCCI) said at a meeting in Hanoi Tuesday. Vietnam exported tea, herbs, cooking oil, cotton, and wood products to India and buys machinery, medicines, computer parts, chemicals, steel and fertilizers, said Nguyen Ngoc Thang, Vice Director of VCCI's Foreign Relations Department. However, Vietnam had always suffered from a trade deficit with India, Thang told representatives of 76 Vietnamese and Indian businesses at the meeting, co-sponsored by the VCCI and APITCO, an organization involved in supporting medium and small-sized enterprises of India. APITCO representative, I.D. Prasad said the Indian businesses came to this meeting to seek opportunities in medicine, rubber processing, telecommunications, information technology, construction, aquatic product processing and real estate. Vietnam and India reached a … [Read more...] about Vietnam aims for $1 bln in trade with India next year
There is currently a balance-of-trade deficit between Vietnam and Myanmar, although the two-way trade turnover between the two countries enjoyed a sharp increase in 2008. According to the General Department of Vietnam Customs, the two-way trade turnover between Vietnam and Myanmar was estimated at US $118 million in 2008, an increase of 21.3% over the previous year. In 2008, Vietnam’s export turnover of goods to Myanmar reached US $28 million, increasing by 28.4% while the country imported a volume of goods worth US $90 million from Myanmar. Vietnam currently ranks 11 th among foreign importers of goods from Myanmar, after countries and territories such as Thailand, Hong Kong, India, Singapore, China, Malaysia, Japan, Bangladesh and South Korea. Source: vneconomy Translated by Vu Hung … [Read more...] about Balance-of-trade deficit between Vietnam and Myanmar
India on Friday said its trade deficit was "ballooning" after imports sharply outpaced exports last month. Imports accelerated by 21 percent to $40 billion in February from a year earlier, mainly driven by oil purchases, while merchandise exports grew by by a much slower 4.3 percent to $24.6 billion, hit by weak global markets. "There is a large ballooning of the trade deficit," India's Commerce Secretary Rahul Khullar said in New Delhi. The government raised its trade deficit forecast for the financial year to March 31 to $175 billion-$180 billion from $160 billion projected earlier. The trade gap totalled $104 billion last year. Khullar told reporters that exports for the current fiscal year could undershoot the government's initial $300-billion target by a few billion dollars. The bigger projected trade gap could also widen the current account deficit -- the total sum of trade and investment flows, analysts said. Last month, the government forecast the trade gap would … [Read more...] about India says trade deficit ‘ballooning’