Trade gap surges to $10.2 billion

The trade deficit in November was worth US$1.75 billion, which took the figure for the year to $10.2 billion, according to the General Statistics Office.

Rice gathered for export in Tien Giang Province in the Mekong Delta. The nation’s trade gap continued to rise in November (Photo: Tuoi Tre)

While 25 items saw an increase in export volume, only eight commodities recorded an increase in value as the prices of many goods fell on the global market, some by more than 15 percent.
Pepper exports, for instance, rose 52.3 percent in volume terms but only 11.8 percent in value. Rice exports were up 33.5 percent in volume terms but actually fell by 5.8 percent in value terms.
GSO officials said the trade gap is likely to widen as imports could rise in the remaining months thanks to incentives and the recovery in some major markets.

By A. Thu – Translated by Hoang Yen

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