Imports up 12% in Vietnam

The fast-growing economy of Vietnam is estimated to have required 7.55 million metric tons of petroleum products valued at US$4.06 billion from January to July 2007, up 12%, the General Statistics Office (GSO) said. In July alone, Vietnam imported 1.05 million metric tons of petroleum products worth US$620 million, unchanged in volume but up 5% in value, it added. A Ministry of Trade official said rising imports over the seven months are attributed to the use of distillated fuels by the fast-growing national economy. Vietnams industrial production is forecast to grow 17%, to reach a production value of VND326 trillion (US$20.4 billion) in the first seven months this year. (July 27, 2007)