Vietnam Daily News

Vietnam's trade deficit with China at over $12b in Jan-Nov

Written by Dailynews.vn Friday, 16 December 2011 17:44

As reported by the general Department of Vietnam Customs, in November, Vietnam's import spending from China was over $2.456 billion, rising nearly 30 percent from the same period last year.

Under which, Vietnam mainly imported machinery, equipment, tools and other spare parts (nearly $480 million), computers, electronic products and components (nearly $265 million), fabrics (nearly $244 million), telephones and accessories ($236 million), fuel (more than $140 million), fertiliser (approximately $128 million) and iron and steel (nearly $117 million) from China.

Vietnam's export turnover to China in November reached nearly $1.092 billion, growing nearly 23 percent on year with key products such as rubber (over $234 million), crude oil (nearly $144 million) and coal (nearly $128 million).

Thus, in November, Vietnam's trade deficit with China was over $1.364 billion, rising nearly 27 percent from the same period last year.

Accumulatively, in the first 11 months of this year, Vietnam's import spending from China was nearly $22.048 billion (a year-on-year increase of nearly 30 percent) while export turnover at nearly $9.681 billion (up 53 percent on year).

Therefore, in Jan-Nov, Vietnam's trade gap from China was $12.367 billion, up nearly 7 percent on year and equaling to 140 percent of the country's total trade deficit value in Jan-November

Source: www.intellasia.net/news/articles/economy/111350950.shtml