Vietnam's Trade Deficit with China Dwindles to $6.5 Billion in Q1

Tuan Minh

14:00 20/04/2016

BizLIVE - Vietnam had a trade gap of $6.47 billion with China in the first quarter of this year.

Vietnam's Trade Deficit with China Dwindles to $6.5 Billion in Q1

Vietnam's trade deficit with China fell in Q1/2016. (Photo: Wikimedia)

Vietnam recorded a trade deficit of $6.47 billion with China in the first three months of this year, narrower than a trade gap of $7.8 billion in the same period of 2015, data of the General Department of Vietnam Customs show.
Vietnam raked in $4.2 billion from exports to China, up 19.2% year-on-year, with the staples being crude oil, fabrics, computers and electronics, and cameras and spare parts.
The Southeast Asian country’s imports from that market decreased 5.9% to $10.66 billion, according to the department. China was the main supplier of machines, equipment and spare parts, cell phones and accessories, computers and accessories, and fabrics, among others, for Vietnam.
Vietnam, meanwhile, posted trade surplus of $6.6 billion and $5.37 billion with the U.S. and European Union, respectively.
Vietnam’s external trade went up 1.1% year-on-year to $76.17 billion in Q1/2016. The country's export turnover increased 6.6% to $38.77 billion and import revenue declined 4% to $37.43 billion in the period.
Chart: Vietnam's external trade in Q1 in 2010-2016
Source: General Department of Vietnam Customs 

 

TUAN MINH

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