Export turnover posts 2.5% higher in October

Photo: Vietnamnet (CPV) – The General Statistics Office of Vietnam on October 25th reported that the country’s export turnover in October reached USD 6.25 billion, increasing by 2.5% from the previous month and 23.2% year on year. This figure raised total export turnover in the first 10 months of 2010 to more than USD 57.7 billion, a 23.% increase year on year. Commodities saw sharp increases in exports, including iron and steel, chemical substance, electric wire and cable, cashews, and fossil coal. Export growth of local businesses and FDI-invested businesses are 20.4% and 25.8%, respectively. These figures saw few differences. In October, import turnover posted an estimated USD 7.35 billion, increasing by 5.4% from the previous month and 8.7% year on year. On the whole, trade gap in October stood nearly USD 1.1 billion, rising by 25.7% from September. Rubber, products from petrol, milk and products from milk, and wheat saw sharp increases in import turnover. In the next two months, if there are no changes in foreign trade, the country’s trade gap for the whole year will possibly stand at USD 13.5 billion which was pledged by the Government.