World Economy

Vietnam Trade Deficit With China Expanded

Vietnam Trade Deficit With China ExpandedVietnam Trade Deficit With China Expanded

Vietnam’s trade deficit with China saw a year-on-year increase of 30.2% in the first seven months, hitting $19.4 billion, local media reported, citing a report by the Vietnam Customs as saying, Thanh Nieh News reported. The country imported nearly $28.4 billion worth of goods from its neighboring country, up 20% compared to the same period last year. Products from China accounted for 30% of Vietnam’s imports. Garment, footwear and electronics were among the major imported products between January and July, as usual. Vietnam’s exports to China, meanwhile, grew at just 5%, amounting to over $9 billion, or 10% of the country’s overall exports.