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Effective economic measure lowers trade deficit
04
Aug '08
Sources from General Statistics Office narrates that trade gap of Vietnam has narrowed due to effective economic measures taken by Government, resulting in reduction of import rate every month in 2008 compared to 2007.

The data further says that country's import value was US $51.9 billion in first 6 months, an increase of 56.8 percent compared to 60.3 percent last year.

In July 2008, Vietnam expended $1 billion on imports which shows low increase rate, whereas export fetched $36.9 billion, highest since 2005. In this period, Government gave top priority to reduce its trade gap to keep control on inflation.

Other steps including increase in bank interests and decrease in public expenditures facilitated in improving the situation. According to sources from Asian Development Bank, Government's measures proved encouraging which has decreased import and stabilized country's currency.

Fibre2fashin News Desk - China


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