Vietnam’s exports fall this month

Vietnam’s exports fall this month

Vietnam’s monthly export revenue fell for a third month in November, the Ministry of Industry and Trade said Friday.

Export revenue in November is estimated at US$4.8 billion, $240 million less than in October. The country's total export revenue in the first 11 months of the year is estimated at $58.54 billion. Over the same period, imports have leapt to $75.4 billion, a 38 percent year-on-year increase. In November, imports are estimated to have totaled $5.3 billion. From January to November, imports of steel end-products rose 141 percent, steel billet jumped 63 percent, fertilizer increased 70 percent, petrol 60 percent and cotton 66 percent. Vietnam needs to boost exports in order to reduce the trade deficit and stimulate economic recovery, the European Chamber of Commerce said in its report on trade issues released Thursday. Reported by Vinh Bao