HANOI: Vietnam is expected to show a $600-million trade deficit in September after a more-than $1 billion surplus recorded in August, a state-run newspaper said on Monday.
Exports are estimated to rise 12.3 percent from the same month last year to $12.4 billion, while imports could touch $13 billion, the Thanh Nien (Young People) newspaper said, citing a summary of reports from the trade, finance and the planning and investment ministries.
Vietnam had a trade surplus of $1.07 billion last month, based on customs data, the highest since January's surplus of $1.44 billion.
January-September exports have been estimated at $109.63 billion, while imports during the period would reach $107.16 billion, resulting in a trade surplus of $2.47 billion, the newspaper said.
Rising exports in 2012-2013 and a steady inflow of overseas remittances have helped swing Vietnam's trade balance to a surplus and boosted its foreign exchange reserves to $35 billion as of June this year, from $9 billion in 2011, according to central bank data.
Vietnam's gross domestic product (GDP) grew 5.42 percent last year, one of the fastest rates in the region, but the $170-billion economy remains fragile, dependent on external markets and still grappling with bad debt, bankruptcies and weak retail spending.
The government has targeted 5.8 percent growth this year, while economists have forecast annual growth at 5.6-5.7 percent, due in part to slower lending. Economists have also said tension at sea between Vietnam and China could cut Vietnam's GDP value by 10 percent this year.
The government is expected to release full trade data for the first nine months later this week.
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