Vietnam October Exports Unexpectedly Fall as Coffee Sales Drop

(Bloomberg) --

Vietnam’s exports dropped 0.8% in October compared to the prior year -- far below expectations for 10% growth in a Bloomberg survey of economists --as shipments of phones, crude oil and coffee fell, according to data from the General Statistics Office in Hanoi.

Overseas coffee sales in October were 100,000 tons, down 27% from a year ago, as farmers held off selling beans with prices at their lowest in a decade. In addition, Samsung Electronics Co. reduced its phone and accessories shipments between September and October, the government said. There were also significant declines in Vietnamese exports of crude oil and steel.

Imports jumped 3.5% in October from a year earlier. Exports for January through October were estimated at $217 billion, up 7.4% from the year-ago period, after the country reported a 8.2% increase in exports for January through September, the government said.

To contact the reporter on this story: Nguyen Dieu Tu Uyen in Hanoi at uyen1@bloomberg.net

To contact the editors responsible for this story: John Boudreau at jboudreau3@bloomberg.net, Clarissa Batino, Michael S. Arnold

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