Vietnam’s trade deficit widened to $1.2 billion in June as exports slumped due to a decline in gold sales. Exports slipped 5% to $6 billion and imports were nearly unchanged $7.2 billion. For the first half of 2010, Vietnam’s deficit was $6.7 billion compared to $2.3 billion last year.
Vietnam’s export figures had risen in May as traders sold gold to take advantage of a gap between domestic and international prices. Exports of precious metals in June fell to $350 million from $993 million in May.
The country’s central bank says a widening deficit poses a “macroeconomic risk.”
More on Vietnam’s trade deficit