Vietnam’s gold export estimated at 35-38 tonnes in 2011

Vietnam’s export for gold and its products (called gold) in 2011 was estimated at about $2.1 billion while the country’s import value from gold in 2011 was estimated at $1.9 billion, the local newspaper VnEconony cited leader of General Statistics Office (GSO), Le Thi Minh Thuy, as saying on January 3, 2012.
Basing on the average price chart on the world market, in 2011, Vietnam estimated to export about 35-38 tonnes of gold, Thuy said.

According to Thuy, the country’s gold import spending in 2011 increased up to 101.6 percent from 2010. Gold accounted for 50 percent of limited import items, so totally, the import value for controlled commodities in 2011 increased 42 percent on year.

Earlier, according to the figure from GSO and general Department of Vietnam Customs, Vietnam’s export for gemstone, precious metals and its products in June reached an export turnover of over $805 million, contributing to dragging the trade deficit of the month to $160 million compared to the figure of $1.4 billion in May.

Vietnam’s export for this precious metal item continued to increase in July and decreased gradually since August when the local gold price surged highly and the State Bank of Vietnam (SBV) allowed importing gold to stabilise the domestic market. – Vietbiz24

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Posted by admin on Jan 4 2012. Filed under Gold price. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry