Vietnam’s trade deficit narrowed to $200 million in December from $430 million in November, according to preliminary figures issued Thursday, as the government continued to curb nonessential imports and boost exports.

Exports in December are projected to rise 4.25% from a year earlier to $4.9 billion due to more shipments of coal, electronics, garments and crude oil, the General Statistics Office said in a statement.

It said imports in December are projected to fall 19% on year at $5.1 billion.

Exports in 2008 are projected to rise 29.5% to $62.9 billion and imports to rise 27.5% to $79.9 billion.

The deficit for 2008 is projected to be $17 billion, much wider than a deficit of $12.4 billion last year.

Vietnam usually issues economic data based on estimates before the end of a reporting period.

Exports of domestic enterprises in 2008 are estimated at $28.0 billion, up 34.7%. Foreign-invested firms will likely report non-oil exports of $24.45 billion, up 26.8%, the GSO said.

Imports of domestic enterprises are forecast to be $51.4 billion, up 25.6% from a year earlier. Foreign-invested firms are expected to report imports of $ 28.4 billion, up 31.1%.

Vietnam December and 2008 exports and imports (selected categories)

EXPORTS Dec % YOY 2008 % YOY
Garments $820 Mln +9.3 $9.1 Bln +17.5
Shoes $450 Mln +15.4 $4.7 Bln +17.6
Marine Products $360 Mln unch $4.56 Bln +21.2
Wooden Products $250 Mln +8.69 $2.78 Bln +15.6
Electronics & $220 Mln -4.34 $2.70 Bln +25.5
Computer Parts
Rice $180 Mln +818 $2.90 Bln +94.8

IMPORTS
Machinery $1.1 Bln +10.0 $13.6 Bln +22.4
Steel $260 Mln -50.8 $6.34 Bln +24.0
Computers & $320 Mln +6.67 $3.72 Bln +25.8
Electronics
Cloth $350 Mln -5.4 $4.45 Bln +12.6
Plastics $172 Mln -34.6 $2.92 Bln +16.6

(Dow Jones)