Vietnam posts trade deficit, but FDI on the rise

Reading Time: 1 minute

Vietnam factoryVietnam had a $300 million trade deficit in August 2013 after reporting trade surpluses in June and July, local media reported.

The deficit for the first 8 months of 2013 is $600 million, compared with $400 million in the same period of 2012, the Vietnam Economic Times newspaper said, citing Planning and Investment Ministry data.

According to the data, January-August exports rose 14.7 per cent from a year earlier to $84.8 billion, while imports for those eight months were up 14.9 per cent to $85 billion.

Meanwhile, foreign investors poured a total of $12.63 billion into Vietnam from January to August 2013, an increase of 19.5 per cent over the same period in 2012.

The Foreign Investment Agency (FIA), a unit under the Ministry of Planning and Investment, reported that as of August 20, nearly 770 new projects were licensed, representing registered capital of over $7.4 billion, a year-on-year increase of 12.2 per cent. At the same time, 296 projects contributed an additional $5.22 billion in capital, 31.7 per cent higher than the previous period.

The FIA says foreign investment was funneled into 18 industries, of which processing and manufacturing took the lead with 370 projects worth $10.817 billion, accounting for 85 per cent of total foreign investment capital.

The real estate sector ranked second with more than $588 million, representing 4.7 per cent of the total flow.

Japan remains the largest of Vietnam’s 47 foreign investors with $4.35 billion (34.5 per cent of the total), followed by Singapore ($3.78 billion, 29.9 per cent) and Russia ($1 billion, 8.1 per cent).

Do you like this post?
  • Fascinated
  • Happy
  • Sad
  • Angry
  • Bored
  • Afraid

Reading Time: 1 minute

Vietnam had a $300 million trade deficit in August 2013 after reporting trade surpluses in June and July, local media reported.

Reading Time: 1 minute

Vietnam factoryVietnam had a $300 million trade deficit in August 2013 after reporting trade surpluses in June and July, local media reported.

The deficit for the first 8 months of 2013 is $600 million, compared with $400 million in the same period of 2012, the Vietnam Economic Times newspaper said, citing Planning and Investment Ministry data.

According to the data, January-August exports rose 14.7 per cent from a year earlier to $84.8 billion, while imports for those eight months were up 14.9 per cent to $85 billion.

Meanwhile, foreign investors poured a total of $12.63 billion into Vietnam from January to August 2013, an increase of 19.5 per cent over the same period in 2012.

The Foreign Investment Agency (FIA), a unit under the Ministry of Planning and Investment, reported that as of August 20, nearly 770 new projects were licensed, representing registered capital of over $7.4 billion, a year-on-year increase of 12.2 per cent. At the same time, 296 projects contributed an additional $5.22 billion in capital, 31.7 per cent higher than the previous period.

The FIA says foreign investment was funneled into 18 industries, of which processing and manufacturing took the lead with 370 projects worth $10.817 billion, accounting for 85 per cent of total foreign investment capital.

The real estate sector ranked second with more than $588 million, representing 4.7 per cent of the total flow.

Japan remains the largest of Vietnam’s 47 foreign investors with $4.35 billion (34.5 per cent of the total), followed by Singapore ($3.78 billion, 29.9 per cent) and Russia ($1 billion, 8.1 per cent).

Do you like this post?
  • Fascinated
  • Happy
  • Sad
  • Angry
  • Bored
  • Afraid