Trade deficit within safe limit, assures ministry

Rice ready for export at a warehouse in the Mekong Delta(Photo: VNA)

The 2008 trade deficit is estimated at US$17 billion, the Ministry of Planning and Investment reported, adding it is within the “safe limit” of $20-21 billion.

Exports were worth $62.9 billion, a year-on-year increase of 29.5 percent and imports $79.92 billion, up 27 percent, it said.

The main items of import were petrol and oil (12.66 million tons, up 0.5 percent from 2007); steel ingot (2.2 million tons, up 4.6 percent); and machinery, equipment, accessories (up 28.4 percent).

The ministry said it would continue to keep a close eye on the trade deficit next year.

By Binh An - Translated by Truc Thinh

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