Tuesday, 29th July 2008 (331 views)

Gold exports in Vietnam have seen a significant increase in recent months, according to reports.

Figures from the General Statistics Office cited on VNA indicate that gold, jewellery and gem exports reached $255 million (£128 million) in July.

Several businesses in the country were permitted to export gold last month despite governmental regulations allowing only the exportation of gold jewellery.

As a result, some gold companies were given consent to trade between one and 1.5 tonnes each, Nguyen Thanh Truc, director of the Agricultural Bank's Gold Trading Company explained.

Mr Truc added that the change in regulation has so far earned an export turnover of $30 million - with $16 million of that figure being derived from gold exports.

Vietnam temporarily suspended all gold imports into the country in an effort to control its trade deficit and bolster its currency, the dong, the Financial Times reported.

 

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