Vietnam’s trade gap with China tops US$3b
Print Edition
VIETNAM saw a trade deficit of over US$3 billion with China in July, bringing the figure in the first seven months of 2015 to around US$19.3 billion, said Vietnam Customs yesterday.
A report released by Vietnam Customs on its website said the country spent US$4.36 billion importing goods from China, while earning US$1.34 billion from exports there in July.
In the seven-month period, Vietnam’s export and import value with China reached over US$9 billion and US$28.4 billion respectively.
In the January-July period, Vietnam exported 37 groups of items to China. Exports of the computers, electronic products and accessories group earned revenue of US$1.45 billion while the remaining groups earned under US$1 billion in exports, according to the customs.
The spending on imports from China of machines, tools, equipment, accessories totaled US$5.29 billion, while cell phones and accessories amounted to US$3.88 billion and fabrics totaled US$2.98 billion.
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