Vietnam Reports US$2.56B Trade Deficit with China in Q1: Ministry
Vietnam-China trade was valued at US$5.38 billion in the first quarter, including Vietnam’s trade deficit of $2.56 billion, the Ministry of Industry and Trade said.
Vietnam exported $1.41 billion worth of goods to its neighbor and imported $3.97 billion in Q1, the MoIT said on it website Monday without giving on-year comparisons.
The Southeast Asian country’s main exports were machinery and equipment worth $937.95 million, computers, electronics and spare parts worth $340.85 million and petroleum products worth $329.09 million, added the ministry.
China has remained Vietnam’s largest trading partner for years but the latter has incurred an annual huge trade deficit with the former during the period with the peak of $11.5 billion in 2009, representing over 90% of Vietnam’s total trade gap.
Vietnam and China are trying to raise the bilateral trade to $25 billion this year from $21.35 billion in 2009. (Vinanet)
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