Over US$9 billion trade deficit forecast next year

The Ministry of Industry and Trade has forecast that trade deficit will maintain less than 5 percent of total export turnover equivalent to US$9.05 billion in 2016.

A computer assembling company in HCMC (Illustrative photo: SGGP)

The total export turnover is predicted to reach US$181.5 billion.

Basing on GDP growth of 6.5 percent, the ministry has predicted a year on year growth of 9 percent industrial production index.  Total retail sales of goods and service will jump 9.5-10 percent.

Electricity consumption demand is expected to increase 11.4 percent over 2015.

This year, total export turnover is likely to touch US$165 billion and imports to break US$173 billion, an increase of 17 percent over 2014. Trade gap is estimated to reach US$8 billion, accounting for 5 percent of total export turnover.

By Dang Tuan – Translated by Hai Mien

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