Vietnam’s August exports slide 7.6%, industrial output up 2.6%

HANOI (Reuters) – Vietnam’s exports in August were estimated to have fallen 7.6% from a year earlier to $32.37 billion, government data showed on Tuesday, while its industrial output for the month rose 2.6%.

Imports for August fell 8.3% from a year earlier to $28.55 billion, resulting in a trade surplus of $3.82 billion, the General Statistics Office (GSO) said in a report.

The monthly fall would be the sixth in a row for exports-reliant Vietnam, a regional manufacturing centre for electronics and textiles that is struggling amid weakened global demand and tightening moves by the U.S. Federal Reserve.

For the first eight months of this year, exports fell 10% from a year earlier to $227.71 billion, while imports were down 16.2% to $207.52 billion.

The resulted in an estimated trade surplus of $20.19 billion, the statistics office said.

Vietnam’s industrial output in the January-August period fell 0.4% from a year earlier, it said, adding that August consumer prices rose 2.96% from a year earlier.

(Reporting by Khanh Vu; Editing by Martin Petty)