Trade shortfall with China swells

12-Nov-2014 Intellasia | VOV | 7:32 AM Print This Post

In the nine months leading up to October the nation’s trade deficit with China was up by $20.17 billion, according to the general Department of Vietnam Customs.

The department reported the trade shortfall is now forecast to reach $27 billion by the end of the year, which is down 32.5 percent when compared to its previous projection of $40 billion.

For the nine-month period the nation’s imports from China reached $31.27 billion, comprising 29 percent of total imports into the country, while exports to China grossed $11.1 billion, 10 percent of the nation’s total exports.

Notably, seven groups of imports from China with values exceeding $1 billion included machinery and equipment (US$5.7 billion), mobile phones and accessories (US$4.5 billion) and cloth (US$3.4 billion).

Two groups of exports to China exceeding $1 billion were computers, electronic products and spare parts (US$1.5 billion) and crude oil (US$1.05 billion).

 


Category: Economy, Vietnam

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