Home Economy

Trade deficit with China climbs to $39 billion

Sep 18th at 14:27
18-09-2021 14:27:23+07:00

Trade deficit with China climbs to $39 billion

Vietnam’s trade deficit with China in the first eight months of the year was $39 billion, or $3.8 billion more than in the whole of 2020.
Container trucks carrying dragon fruits at a parking zone near the Tan Thanh Border Gate in the northern province of Lang Son, February 4, 2020. Photo by VnExpress/Giang Huy

Vietnam's exports to the country rose by 22 percent to $33.5 billion, 16 percent of its total exports, according to the General Department of Customs.

They were driven by 65 percent and 46 percent surges in cellphone and component exports.

China remained Vietnam’s largest source of imports, mainly machinery and equipment, phones and components and raw materials for the textile industry, which grew by 47 percent to $72.5 billion.

Last year, Vietnam was China's sixth largest trading partner and its fifth largest export market.

Vnexpress

MOST READ

NEWS SAME CATEGORY

VGCL proposes to spend US$3.9 billion to support COVID-19 affected labourers
ECONOMY Sep 18th at 10:17

VGCL proposes to spend US$3.9 billion to support COVID-19 affected labourers

The Vietnam General Confederation of Labour (VGCL) has proposed spending up to VNĐ89 trillion (US$3.91 billion) from the unemployment insurance fund to support...

Reopening poses challenges for southern businesses
ECONOMY Sep 18th at 10:16

Reopening poses challenges for southern businesses

Businesspeople longing for a reopening in the southern region are now facing challenges in recruitment and material sourcing as the economy slowly unfreezes.

Vietnam to be among first countries ratifying RCEP
ECONOMY Sep 18th at 10:15

Vietnam to be among first countries ratifying RCEP

The Regional Comprehensive Economic Partnership (RCEP) was one of Vietnam’s major achievements when the country was serving as the Chair of ASEAN in 2020.

Foreign investors maintain confidence in Vietnam's economy amid COVID-19: WB
ECONOMY Sep 18th at 10:14

Foreign investors maintain confidence in Vietnam's economy amid COVID-19: WB

An increase in foreign direct investment commitment in Vietnam last month despite the raging pandemic has suggested foreign investors’ continued confidence in the...

Vietnam remains Austria reliable partner in Southeast Asia
ECONOMY Sep 17th at 13:50

Vietnam remains Austria reliable partner in Southeast Asia

Both sides agreed to step up cooperation in trade, investment, and healthcare.

Vietnam, Egypt boost bilateral trade cooperation
ECONOMY Sep 17th at 08:32

Vietnam, Egypt boost bilateral trade cooperation

Egypt has become a potential market for Vietnamese exports of computers, electronic components, fibers, yarns, seafood and agricultural products both in itself and...

Long An Province near HCM City gradually restoring economic activities
ECONOMY Sep 17th at 08:22

Long An Province near HCM City gradually restoring economic activities

Long An Province has started to gradually reopen its economy, its Party Committee Secretary, Nguyen Van Duoc, has said.

Pandemic will continue to hit State budget revenue in the coming months
ECONOMY Sep 17th at 08:21

Pandemic will continue to hit State budget revenue in the coming months

The Ministry of Finance (MoF) is concerned the COVID-19 pandemic would continue to affect State budget revenue in the coming months.

Recovery, digitalisation and sustainability key ASEAN's focus
ECONOMY Sep 17th at 08:19

Recovery, digitalisation and sustainability key ASEAN's focus

Recovery, digitalisation and sustainability are major economic cooperation objectives for the Association of Southeast Asian Nations (ASEAN) in a post-pandemic...

GDP to reach 3.5-4 per cent this year
ECONOMY Sep 16th at 08:51

GDP to reach 3.5-4 per cent this year

The country’s GDP this year is expected to reach 3.5-4 per cent if the COVID-19 pandemic is controlled in September and a 'new normal' achieved from the fourth...

Read More

MOST READ

Back To Top