Vietnam trade deficit with China hits USD150bn after five years
Import turnover from China reached USD250bn while the export turnover was only USD100bn from 2013 to the first quarter of 2018, according to the Ministry of Finance.
From 2013 until the end of the first quarter of 2018, the import-export turnover with China was USD362bn of which USD250bn is the import turnover and USD100bn is the export turnover.
The trade deficit in 2013 was over USD23bn and USD29bn in the next year. It reached USD33bn in 2015 before dropping to USD28bn in 2016 and USD22.70bn in 2017.
Chinese goods are preferred because of cheap prices and diversity.
According to the Ministry of Finance, the majority of the imported goods are machines, spare parts, fertilizer, coal and fruit. Vietnam has only been able to export low-value goods to China including rubbers, rice and other agricultural products.
Vietnam has 24 international border gates
From 2013 until the end of the first quarter of 2018, the import-export turnover with China was USD362bn of which USD250bn is the import turnover and USD100bn is the export turnover.
The trade deficit in 2013 was over USD23bn and USD29bn in the next year. It reached USD33bn in 2015 before dropping to USD28bn in 2016 and USD22.70bn in 2017.
Chinese goods are preferred because of cheap prices and diversity.
According to the Ministry of Finance, the majority of the imported goods are machines, spare parts, fertilizer, coal and fruit. Vietnam has only been able to export low-value goods to China including rubbers, rice and other agricultural products.
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