Vietnam’s exports to China rise despite territorial tensions

08-Oct-2014 Intellasia | Thanh Nien News | 6:00 AM Print This Post

Vietnam-China trade has remained unaffected by recent tensions over an illegal Chinese oil rig’s incursion into Vietnamese waters, a government report said.

Vietnam’s exports to China increased 16 percent from January to September compared to the same period last year and made up 10 percent of Vietnam’s total export turnover, news website Thoi Bao Kinh Te Saigon (Saigon Times) quoted a government report as saying.

Exports to China grew 7 percent in the first nine months of last year, he said.

On the average, Vietnam earned roughly $1.2 billion each month from exports to the neighbouring country, according to the report which was submitted to the National Assembly – Vietnam’s legislature – last week.

On the other side, Vietnam imported around $3.4 billion worth of products from China each month during the first nine months of this year.

Vietnam’s imports from China grew more than 16 percent between January and September compared to the same period of last year, accounting for nearly 29 percent of total import value.

Hanoi and Beijing have been locked in territorial disputes because of the latter’s May 2 deployment of a mobile oil rig into Vietnam’s 200-nautical mile exclusive economic zone

Though China withdrew the illegally placed rig from Vietnamese waters in mid-July, bilateral relations remain strained due to China’s long-term strategy in the East Sea, the Vietnamese term for the South China Sea.

On October 2, the trade ministry announced on its website ( that Vietnam’s exports climbed more than 14 percent to $109.6 billion during January-September from the same period last year.

Imports were up 11 percent at $107.2 billion during that period.


Category: Economy, Vietnam

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