Vietnam trade deficit tops $10b

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HANOI, Nov 24 (AFP): Vietnam's trade deficit has surged past the 10 billion dollar mark so far this year, a 142-per cent rise over the same period last year, state media reported today quoting government estimates.
High costs of imports including fuel, raw materials and machinery were to blame for the trade gap widening to 10.47 billion dollars, far above the target of 3.9 billion dollars, the English-language Vietnam News reported.
Between January and November, Vietnam spent 54.1 billion dollars on imports, up 33.1 per cent year-on-year, the daily said, quoting an early estimate from the General Statistics Office (GSO).
In the same 11-month period, Vietnam earned 43.6 billion dollars from exports, a rise of 20 per cent - - mainly crude oil from Vietnam's offshore fields, followed by textiles and garments, footwear, and fish and shrimp.