THE SOCIALIST REPUBLIC OF VIET NAM
Government News
Trade Deficit with China Hits Nearly US$7.5 bln in Two Months
VGP – Viet Nam’s trade deficit with China in the first two months of 2021 reached US$7.44 billion, higher than the former's total export value to ASEAN and the Republic of Korea, according to the General Department of Customs.
Export and import volume with China were estimated at US$7.98 billion and US$15.42 billion, witnessing year-on-year respective surges of 46.8% and 66%, respectively.
In the first two months of 2020, Viet Nam’s imports from China accounted for 24.9% of the nation’s total import value ad the figure rose to 32.7% during the first two months this year, or nearly one thirds of the country’s total import turnover.
Viet Nam mainly bought computers, electronics and spare parts (US$2.88 billion, up 78.3%) and machines, equipment and tools (US$3.37 billion, up 70.7%) from China.
During the reviewed period, Viet Nam’s trade value with countries in Asia, Africa, Europe, Oceania and Africa reached US$62.12 billion, US$19.82 billion, US$10.95 billion, US$1.85 billion and US$1.11 billion, or up 25.6%, 26.8%, 15.9%, 18.7% and 35.4%, respectively./.
By Thuy Dung