VietFinanceNews.com - International reserve (or forex reserve), one of important targets in the statistics system under the global economic norms, was for the first time added to Vietnam's National Statistic System from 2006, showing the financial strength of each country.

Reportedly, Vietnam's international reserve in 2007 was higher 6.3 times than 2001 and 2.6 times against 2005.

The ranking position of Vietnam on total international reserve scope in the region, Asia and the world has changed. In south-eastern Asia, Vietnam stood sixth among 10 countries after Singapore, Malaysia, Thailand, Indonesia and Philippines. In Asia, of 40 countries and territories, Vietnam climbed from 18th in 2001 to 17 in 2005 and 15 in 2007.

Globally, among 168 nations and territories having comparative statistics of international reserves, Vietnam was upgraded from 59th position in 2001 to 54 in 2005 and 44 in 2007.

To work out the scope of international reserves, the ranking list was built based on some targets or embedded with several other targets like income per capita, import spending and national debts.

Basing on income per capita, Vietnam's grade in terms of population stood at 3rd in Asean and the eighth in Asia and 13th in the world three years ago so the country's international reserve scope was very low in that year.

Basing on import spending, Vietnam previously used to calculate the total international reserves according to number of import weeks. To date there have not been the exact number of import weeks in recent years but Vietnam estimated the number was about two digits (over 15 import weeks). This was the necessary warnings when National Debts are closer to 50 percent of GDP.

In order to increase international reserves, Vietnam will have to surmount the trade deficit, and enhance the foreign currency attraction from different sources.

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