The signs that private investment has been increasing may reflect stock build-ups. Balance of payments The most striking developments were in the balance of payments. Exports were diverted from the collapsing markets of the region to new areas, with great success. Good rice prices and sharply lower fertiliser prices benefited rice farmers and the trade balance. Most commodity prices, however, fell sharply, including crude oil.
Most investors are from the region.
Whether this will be forthcoming, and if so, how it will be financed, time will tell. Yet Vietnam appears to have been able to secure additional commitments to offset the gathering gloom. The net effect on the balance of payments of these three trends, therefore, was that the loss of FDI was offset by the improvement of the trade position and increased aid money. The remaining elements of the Vietnamese balance of payments in 1998 are not well understood. However, we know little about reserves and other short- term lending.