Vietnam Daily News

Vietnam's trade deficit for oil and gas at over $7.3b in Jan-Nov

Written by Dailynews.vn Tuesday, 13 December 2011 20:16

In November, Vietnam exported nearly 782,000 tonnes of crude oil worth over $695 million, increasing 23.7 percent in quantity and 30.6 percent in value from the previous month, according to the general Department of Vietnam Customs. Accumulatively, in the first 11 months of this year, the country exported nearly 7.7 million tonnes of crude oil valued at nearly $6.76 billion, rising 5.8 percent in quantity and 51.7 percent in value from the same period last year and equalling to 96 percent of the year's plan, the agency reported. Meanwhile, in November, Vietnam imported over 81,000 tonnes of crude oil for nearly $82 million, increasing slightly from the previous month, lifting the total volume in Jan-November to 629,000 tonnes for nearly $567 million, rising 53.5 percent in quantity and 112.3 percent in value from the same period last year. Thus, in November, Vietnam posted a trade surplus of $613 million for crude oil (up nearly 50 percent on year) and the accumulative trade surplus in Jan-November at over $6.19 billion, rising 48 percent on year. Thus, in November, the country reported a trade deficit of $658 million for oil and gas (increasing three times from the same period last year) and the trade gap in Jan-November was over $7.32 billion, up 70 percent on year.

Source: www.intellasia.net/news/articles/economy/111350675.shtml