Vietnam’s trade deficit widens in first 11 months

HANOI, Vietnam (AP) — Vietnam’s trade deficit has widened to $16.9 billion in the first 11 months of this year, the government said Monday.

That’s already well beyond last year’s $14.1 billion deficit, or the amount by which imports exceed exports.

From January to November, imports surged 38.4 percent from a year ago to $75.4 billion while exports in the period totaled $58.5 billion, a jump of 34 percent, the General Statistics Office said in a statement.

The GSO often issues trade data ahead of the month’s end based on estimates.

Vietnam’s exports were boosted by shipments of crude oil, textile, seafood and rice while import surges were driven by machinery, refined gasoline and construction steel.

The government has said it aims to keep the trade gap for the whole year at $19 billion.

http://www.google.com/hostednews/ap/article/ALeqM5hn_EjkTzRIvXikT0AgIZ1Q-cxZIgD94L6M2O1

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